What’s Being Done About Rising Fuel Prices?

Rising petrol and diesel prices is starting to cause businesses and lower earners a real problem. In fact everyone is feeling the pinch. 20 years ago fuel were a third of the price they are now and even a couple of years ago it was not as much a pound a litre. Now prices are well over a pound a litre and expected to continue to rise at a steady rate, with a new increase of 3p per litre due to a rise in duty.

So what is being done about it? The government did postpone a planned rise in April 2012 to take place instead in August 2012. Many feel that this is not enough and more action needs to be taken. Conservative MP Robert Halfon has managed to get a Commons debate regarding the rising price of fuel. The idea behind the discussion is to try to convince the Chancellor George Osborne to look into the cost of fuel before he releases the Autumn Budget Statement.

The fact of the matter is though how much can the politicians really do to stop the price of fuel going up in the long run. This is a worldwide problem and does not just relate to the amount of duty charged on fuel. Will a debate on the subject change anything? I suspect not.