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OFT slams Labour's petrol tax hikes

In a damning report the OFT says that the price of petrol has risen by 60p per litre since 2003. The regulator stated that “this increase is largely attributable to a 24p per litre increase in tax and duty paid on petrol (an increase of 10 per cent in real terms) and a 33p per litre increase in the cost of crude oil”. 

Conservative Party Chairman Grant Shapps said:

“The OFT highlights Labour’s record as the petrol tax party. 

“Labour soaked motorists with a decade of fuel tax rises – they increased fuel duty 12 times when they were in power and planned to raise it a further 6 times if they had won the last general election.

“By contrast, since coming to power this Government has helped hard-pressed motorists by cutting fuel duty by 7 per cent in real-terms.” 

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