Lib Dems urge Reeves to scrap fuel duty hike as Iran war leads to soaring petrol prices

EMBARGO: Immediate Release

The Liberal Democrats are calling on Rachel Reeves to cancel her planned fuel duty increase in tomorrow’s Spring Statement, warning that the conflict in Iran could push petrol prices to record highs.

Labour’s duty hike will see UK drivers hit with a 1p rise in September, the first increase in 15 years.

AA President Edmund King warned this weekend (Sun 1 March) that the turmoil “will inevitably lead to price hikes,” with “record prices at the pumps” expected within “10 to 12 days.”

Daisy Cooper MP, Liberal Democrat Treasury Spokesperson and Deputy Leader, said:

“With fuel prices poised to soar as a result of Trump's war with Iran, it would be disastrous for Rachel Reeves to press ahead with a fuel duty hike in September.

“The Chancellor must use tomorrow’s Spring Statement to scrap her planned fuel duty increase.

“It’s the least she can do to help families weather the storm, keep prices down, and ease the cost of living.”

ENDS

Notes to Editor:

Quotes from Edmund King reported here.

Fuel duty in the UK is set to rise from September 2026. The current 5p-per-litre reduction, originally introduced in 2022, will be reversed, with a 1p increase in September 2026, followed by a 2p increase in December 2026, and a final 2p increase in March 2027.