Fuel Prices Rise Due to Excise Duty Increases
Fuel Prices Rise Due to Excise Duty Increases
Fuel Prices Rise Due to Excise Duty Increases
News summary

Fuel prices in the UK and Ireland are set to rise, with petrol increasing by 4 cents per litre and diesel by 3 cents in Ireland due to the reimposition of higher excise duties. This marks the second price hike within three months, following temporary cuts implemented in 2022 due to the impact of the Ukraine conflict. In the UK, Labour's proposed changes to fuel duty could lead to further increases if the current cuts are scrapped, raising concerns among motorists. Chancellor Rachel Reeves is expected to address this issue in the upcoming Budget set for October 30, which also includes plans to address a £20 billion financial gap. Meanwhile, opposition parties in Ireland, including Sinn Féin, are calling for the government to halt fuel price increases, citing the strain on households facing a cost of living crisis. The situation highlights the ongoing challenges faced by consumers amid fluctuating fuel prices and government fiscal policies.

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