The SNP Westminster Treasury spokesperson, Stewart Hosie MP, has today made a case for the introduction of a fuel duty regulator to protect motorists and businesses.
The Regulator would result in an automatic freeze on fuel duty increases if world oil prices rose above levels forecast by the Chancellor and a parallel reduction in duty to match the extra revenue from VAT from higher pump prices. The proposal is backed by the Road Haulage Association.
Every time oil prices go up, the public pay through the nose. However the Treasury rakes in the loot not just from corporation tax but also from increased VAT on the rising price at the pumps.
This proposal would see any extra cash raised from VAT on higher pump prices would go straight back into an equivalent cut in fuel duty, helping motorists living in remote rural communities and the hard pressed haulage industry.
Ironically Scotland as one of the world's largest oil producers is hit hardest as our haulage industry is most vulnerable to high pump prices
We should not have to wait on the whim of the Chancellor for a freeze on duty rates. Long suffering motorists and hard pressed hauliers should have some degree of protection from rising oil prices and that is what this road fuel regulator provides.
Of course this would also give the west-coast fishermen some, much needed, stability as well.

70.5p/liter? I want some for my car.

This is the price of red derv.
Tax paid white derv is 120ppl +
of course, you could always use red in your car and hope Jolly Gordie doesn't find out;-) !

#3. You're obviously getting it cheap down in Skye if it's only £1.20 a litre.

And this is one of Brown's "concerns" is it? He could resolve the situation today by halving the duty on fuel.

#4 Guga II
I should've mentioned that was last I was home which was about a month back. Petrol is 115 now the wife tells me so I assume diesel is 10ppl more now on Skye.