Mr Darling appeared on Sky TV and stated “I think it is almost certain that he will postpone that increase.” he further added “Given the fact that fuel is now so high and of course the VAT increase in January added to that then I think it would make sense to put it off”

With the Libya situation pushing the wholesale price relentlessly the £6 gallon is just days away, Mr Osbourne needs to consider other options including a fuel stabilizer which would cut tax as the price of oil rose, currently the Office for Budget Responsibility report is being considered the conclusion of this report being – While more expensive oil on the world market meant the Treasury gained receipts from companies operating in the North Sea, escalating pump prices depressed the economy.

Ed Balls the shadow Chancellor has further added to the rising voice on fuel prices by stating “Instead of platitudes they should have announced real help for hard-pressed families by immediately reversing the Tory VAT rise on fuel, which has added £1.35 to the cost of filling up a 50 litre tank.”