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Rishi Sunak under pressure from MPs to cut fuel costs by 5p a litre within days

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Rishi Sunak is facing pressure to act in order to help Brits with the rising living costs due next month.The politician is likely to use his spring statement on March 23 (Wednesday) to slash fuel duty by as much as 5p per litre.More than 50 Conservative MPs are calling for a cut in the tax to reduce the price of petrol and diesel.But Mr Sunak warned he cannot "fully protect" Brits from the rising costs, but he's expected to reduce the duty prices on fuel.Drivers in the UK are currently splurging 57.95p a litre on fuel, one of the highest levels of tax in the world.

More than 50% of the cost of petrol in the UK is made up of fuel duty and VAT. Former cabinet minister Sir John Redwood said: "Taking a bit off petrol and diesel is fine and welcome."But if that's all there is it will be too little, too late.

We are facing a very big cost of living squeeze."We need to be cutting taxes now to relieve that pressure. The Chancellor needs to back off all the tax rises he was planning."The national insurance rise should not go ahead, we should cut VAT on fuel and cut it on energy saving products like insulation too."Despite the rising cost of living, Martin Lewis told the BBC: "I've been a money saving expert since 2000. "I've been through the financial crash, I've been through Covid.

Where we are right now, this is the worst."There is absolute panic and it has not started yet. The big drive here is fuel and energy prices."It comes as oil prices are currently over £75 a barrel as the war in Ukraine continues to raise fears over supply.Want all the biggest Lifestyle news straight to your inbox?

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