John Healey is set to reap a £4 billion ($5.3 billion) tax windfall from soaring petrol and diesel prices, putting Britain’s chancellor of the exchequer under growing pressure to announce relief for drivers at his upcoming budget.
Consumers are paying almost £1.75 a liter for petrol, a 31% increase since the start of the Middle East conflict, according to motoring organization RAC. The pain is even worse for users of diesel, with the fuel that powers the transportation industry up 40% to a record £2 a liter.