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Thursday, December 1, 2022

Families hit by rise in annual petrol costs of nearly £400 – Labour

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abour is urging the Government to combat the “spiralling cost-of-living crisis” as new analysis by the party suggests families have been hit by a rise in annual petrol costs of nearly £400.

Concerns have been mounting over living costs ahead of a planned hike in national insurance in April, together with rising energy prices, forecasts of increased inflation and uncertainty over the war in Ukraine.

Labour said its analysis of official figures reveals the average family is facing an annual rise of £386 in the cost of petrol.

The total was calculated by taking the increase in the petrol prices over the past year, and an average for the number of cars owned by families across the country, as well as how far they travel.

The Conservatives could help working people being hit hard by soaring prices – instead they’ve rejected the choice of a one-off windfall tax on oil and gas producers raking in billions

Labour found the cost of a litre of unleaded petrol increased by 38p from March 2021 to March 2022, and the average family has 1.2 cars and travels 8,040 miles in a year.

Based on the miles-per-gallon (MPG) of an average petrol family car of 36, it said this means on average a household uses 1,015 litres of fuel in a year.

The party therefore found drivers would have shelled out an average of £1,634 in March 2022 compared to £1,248 in March 2021 – a rise of £386.

Meanwhile, Labour reiterated its calls for the Government to cancel the national insurance rise and back a “one-off windfall tax” on the profits of oil and gas producers.

Ministers have decided to push ahead with the health and social care levy in April, which will add to pressure on people’s bank balances as the cost of living continues to climb.

The 1.25 percentage point rise in national insurance is predicted by the Treasury to raise £12 billion per year to help tackle the Covid-induced NHS backlog and reform social care in the long term.

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