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<p>At Spring Statement 2022 in response to fuel prices reaching record levels, the
government announced a temporary 12-month cut to duty on petrol and diesel of 5p per
litre.</p><p> </p><p>This is the largest cash-terms cut across all fuel duty rates
at once, ever, and is only the second time in 20 years that main rates of petrol and
diesel have been cut. This cut represents savings for households and businesses worth
around £2.4 billion in 2022-23.</p><p> </p><p>The Government has been clear that it
expects those in the supply chain to pass the fuel duty cut through to consumers as
promptly as possible. Following a request from the Business Secretary, the Competition
and Markets Authority will undertake a short and focused review of the fuel market
and will provide advice to the Government on steps that could be taken to improve
outcomes for consumers.</p><p> </p><p>All taxes, including fuel duty, remain under
review.</p>
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