Duty on both petrol & diesel is being reduced to help consumers deal with the increased cost

Duty on both petrol and diesel is being reduced in an effort to help consumers deal with the increased cost.

The discounts will be gazetted tomorrow with the Government expecting petrol stations to pass them on to consumers. Duty for all automobile fuel is now reduced to 25 pence of duty per litre.

These reductions apply till the 1st July when they will revert automatically to their original level, unless the Government makes separate provision for alternate rates.

The Chief Minister says the Government wants to help where it can and this measure is one where it considers the help it provides may also drive up revenue for Government from this source of duties. It adds it's conscious of the steps being taken in Spain on fuel duties and subsidies, and is responding to that also through these measures. Fabian Picardo warns this year's Budget will be a tough one, with no give-aways, adding he's timing the period of this reduction towards the traditional dates of our Budgets, so he can then take a view of whether to reverse, increase or reduce this measure as may be appropriate then.

The duty on diesel will be reduced by 15 pence so that 40 pence of duty per litre has been reduced to 25 pence of duty per litre.

Duty on petrol is also reduced as follows, depending on the octane:

98 which is 37 pence of duty per litre.

95 which is 38 pence of duty per litre.

Diesel premium which is 37 pence of duty per litre,