UK Drivers Face Higher Pump Prices, Treasury Benefits

0:00On March 13, UK drivers are facing higher pump prices, and its boosting treasury coffers with extra value added tax revenue. Analysis shows Chancellor Rachel Reeves could gain up to 1 billion, 100 million pounds a year from petrol and diesel sales alone, if prices. Stay elevated. Fuel costs have jumped since late February, when tensions in the Middle East escalated. Petrol is up more than 7 pence per liter, adding about 22 million pounds monthly in the bat, while diesel has risen over 15 pence per liter, netting up to 76 million pounds a month. Campaign groups and motorists are furious, calling the treasury the real winner a mid-economic strain. They argue this windfall means the government can easily delay or drop the planned five pence per liter fuel duty increase set for September, which would add over 3 pounds to a typical fill-up. The Chancellor has said she's reluctant to scrap the hike, but noted its under review, especially if prices keep climbing. Opposition leaders have piled on, accusing labor of treating drivers like cash cows.

1:03With petrol now averaging 140 pence per liter, and diesel 158 pence, eyes are on whether the government will ease the burden or stick to its plan to the summer.