Labour has the audacity to tell us about the price of petrol, yet it was Labour's Mr Darling
That put in the fuel price rises in March 2010 that we are suffering from now.
We are at least we are looking at a Fair Fuel Stabiliser that would reduce fuel duty as oil prices rise but increase it when prices drop.
This is what Labour idea of a stabiliser did to the price of petrol when they were in office
12 rises, with plans for another 6.
When Labour came to power in 1997 the fuel duty on unleaded petrol stood at 36.86p per litre. When they left office in 2010 it had risen to 57.19p per litre
(HMRC, Hydrocarbon oils: historic duty rates, link).
1. 02/07/97 – fuel duty rose to 40.28p per litre
2. 17/03/98 – fuel duty rose to 43.99p per litre
3. 09/03/99 – fuel duty rose to 47.12p per litre
4. 21/03/00 – fuel duty rose to 48.82p per litre
5. 15/06/01 – fuel duty rose to 48.82p per litre (having briefly been 46.82p)
6. 01/10/03 – fuel duty rose to 50.19p per litre
7. 07/12/06 – fuel duty rose to 51.52p per litre
8. 01/10/07 – fuel duty rose to 53.65p per litre
9. 01/12/08 – fuel duty rose to 52.35p per litre (having previously fallen to 50.35p)
10. 01/04/09 – fuel duty rose to 54.19p per litre
11. 01/09/09 – fuel duty rose to 56.19p per litre
12. 01/04/10 – fuel duty rose to 57.19p per litre
Labour also planned for six further fuel duty rises after the election.
Labour’s March 2010 Budget, delivered by Alistair Darling set out six further rises
(HM Treasury, Budget March 2010, p. 8, link).
13. 01/10/10 - 1p rise
14. 01/01/11 – 0.76p rise
15. 01/04/11 – 1p rise in real terms
16. 01/04/12 – 1p rise in real terms
17. 01/04/13 – 1p rise in real terms
18. 01/04/13 – 1p rise in real terms
We are examining options, including a fair fuel stabiliser, and will take our decision in the Budget.
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