Ministers mull suspension of fuel taxes as one route to cheaper petrol
Crude has dropped below $110 but is still up 28% in 2022 and about 43% from 12 months ago
15 March 2022 - 14:59
UPDATED 15 March 2022 - 22:52
As consumers and businesses brace for even higher petrol prices and the government upgraded its inflation forecast, ministers said they are considering a suspension of the fuel levy to ease the impact of surging oil prices.
The price of Brent crude oil soared towards $140 a barrel in the wake of the Russian military aggression in Ukraine, which is approaching its third week, fuelling concern of a spike in inflation across the world...
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