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Fuel Duty Slashed by Five Pence Per Litre - Any Good?

CARS ARE GREAT. WHY? FUNDAMENTALLY, THEY MAKE OUR LIVES EASIER. BUT THEY DO MORE THAN THAT - THEY EXPAND OUR WORLD - WE DON'T HAVE TO STAY 'LOCAL' IF WE DON'T WANT TO!

Fuel...a necessary evil?


CARS ARE GREAT!

They are so convenient because we don’t need to be a slave to bus or train timetables, either. Better still, having access to a vehicle means you don’t have to listen to the mutterings of a cab driver. Harsh? Okay, sorry, cabbies.


Sure, you can walk, run, ride a bicycle, or even thumb a lift. And, of course, there are motorbikes or even powered trikes. You can get pretty far with these machines, but this is the UK, so motorcycles are not the most practical daily transport solution - unless you’re a fan of wet-weather gear over your leathers.


So, back to cars then. These motorised carriages are also as good as mobile homes; they’re sofas on wheels – and, increasingly, they’re travelling offices. But the trouble with them is that they’re not cheap to run. And don’t get us started on electric vehicles (EVs) - that’s for another blog. Alright – we’ll quickly touch on them. They are expensive to buy or lease – and, sure, running them is cheaper than fossil fuel. But paying to charge them up in the UK isn’t always as affordable - or convenient - as you might think. Yet.


Anyway, back to petrol and diesel-powered cars. You can get an effective second-hand motor for two grand these days – and that’s even with the used automotive market being more popular than ever. But buying a vehicle is just the tip of the iceberg. Running one is where your pocket will be hit hardest.


Even once you’ve paid for insurance, servicing, your annual MOT, oil, screen wash etc., you must still ‘feed’ your car with fuel if you plan to use it. And depending on how thirsty your ride is and how far you travel, you need to set aside a regular wedge to keep it on the road.

The sad thing is that fuel has become so dear in recent times that the joy of motoring is in danger of disappearing. But, like a knight in shining armour or David Hasselhoff running into the surf in Baywatch, Rishi Sunak has come to the rescue.


THE SAVIOUR?!

The chancellor of the exchequer couldn’t have stood and watched the car crash that was happening to fuel prices any longer. With petroleum approaching £1.70 per litre and diesel pushing £1.80, he had to do something.


That ‘something’ may not quite save the day yet, but it’s a good start. You see, Mr Sunak has temporarily slashed fuel duty (the tax you shell out when purchasing diesel and petrol) by five pence per litre to help drivers cope with the fiscal burden. It is the most significant reduction of fuel duty that has ever been applied across all fuel tariffs in one go.


The decrease in fuel duty came into force on 23 March 2022 and will stay in place for a year.

Before this current measure was given the green light, it was revealed that fuel duty won’t escalate in the 2022 to 2023 tax year. Add the five pence cut to that, and motorists will save in the region of £100 before 23 March 2023.


Happy days, then. Well, let’s not get too previous. It’s a start – let’s just say that. And, of course, you don’t want any other expense hitting you where hit hurts just yet, either. So, fingers crossed, your car doesn't break down.


MORE MONEY SAVING OPPORTUNITIES?

Okay, you might think it’s the kiss of death now we’ve mentioned that. But fear not; by using RexQ, you can save around £5,000 in your motoring lifetime by not forking out for a yearly roadside assistance membership. After all, why pay for a service you might never need


RexQ costs nothing to download. You only part with money when you get help. Furthermore, we don’t define the fee; the rescuers do. They will bid for your business, meaning you get the best price possible. Great, or what?

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