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Stability sought over fuel stabiliser

This week’s Emergency Budget did not come right out and offer motorists a fuel stabiliser to protect them from fuel price hikes despite the clamour for such a scheme in the run-up the election.

However, Chancellor George Osborne did reveal that the Office of Budget Responsibility will conduct an assessment over the summer of the impact of rising oil prices on public finances, the results of which will hopefully underpin a scheme which could be implemented in time for the next Budget.

A fuel stabiliser would work to cushion prices at the pump against sharp rises in global oil prices. Various motoring organisations, including the AA, have spoken of the benefits to motorists, who have battled with a series of fuel duty hikes over the last two years.

Speaking to the Telegraph, the AA warned that prices are rising again after falling for the past six weeks. “We need a stabiliser as soon as possible. Nearly 70 per cent of drivers are already cutting back severely,” a spokesman said.

While those in charge do seem to have committed to looking into a fuel stabiliser, the details released about this summer’s investigation are minimal.

So, despite the Government dealing the UK some decisive cards this week, motorists have to wait just a little longer to wait for a decision on this particular issue.

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