UK Budget reduces Fuel Duty Tax
FUEL DUTY TAX REDUCTIONS – GOOD OR BAD NEWS FOR THE NI MOTORIST?
Motorists can temporarily breathe a sigh of relief as the government today announced reductions in duty tax of 2 ppl on Ultra Low Sulphur Petrol which was also extended to include Unleaded Petrol and a 3ppl on Ultra Low Sulphur diesel.
Brian Donaldson, Group Marketing Manager of Maxol and Director of the Oil Promotion Federation said: "This is a welcome respite from the price increases we have experienced over the last few years and Maxol will be passing on these price reductions to our customers as soon as new stocks are delivered. These reductions, however will not be enough to solve the real problems faced by Northern Ireland's petrol retailers. Despite these latest reductions in duty tax northern customers buying fuel in the ROI can still save up to 23 to 27pence on a litre of fuel."
"The huge differences in excise duty on petrol and diesel between Northern Ireland and Southern Ireland serves only to aggravate cross border smuggling and adds to trading difficulties at border locations."
"As a company Maxol Oil has been instrumental in lobbying the government to highlight the ongoing problems faced by retailers and the motorist on the high levels of government tax on fuel in the Province. A level playing field for fuel prices must be created on the island of Ireland to avoid distortion of trade, " he said.