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Fuel duty costs have been frozen by Chancellor Jeremy Hunt in a boost to petrol and diesel owners in the Spring Budget.
The temporary fuel duty cut introduced back in May 2022 to help motorists with the cost of living crisis will also remain at its current rate.
It means planned rises scheduled to be implemented later this month will be axed with the discounted rate remaining in place.
Petrol and diesel fuel duty rates will continue to stand at 52.95p per litre despite the potential economic cost.
Estimates suggest the policy would set the Treasury back around £5billion in lost revenues if the planned rises had gone ahead.
However, Mr Hunt said a cut was needed to prevent a 13 percent rise, saving motorists an extra £50 this year.
Speaking in the House of Commons, Mr Hunt said: “Another cost that families and businesses worry about is fuel.
“Now the Shadow Chancellor complained about the freeze of fuel duty and Labour has opposed it at every opportunity.
“The Labour Mayor of London wants to punish motorists even more with his ULEZ plans. But lots of families and sole traders rely on their cars.
“If I did nothing, fuel duty would increase by 13 percent this month… I have as a result decided to maintain the 5p cut and freeze fuel duty for another 12 months.
“This will save the average car driver £50 next year and bring total savings since the 5p cut was introduced to around £250.”
The decision continues the Conservative’s yearly fuel duty freeze with rates having not increased since 2011.
However, simply freezing fuel duty at the current rate might not be enough to win over motorists.
A new poll from Express.co.uk found that the overwhelming majority of road users were desperate to see further cuts to their bills.
Ahead of the Spring Budget, a massive 63.31 percent of motorists polled had called for a 20p per litre cut to fuel duty fees.
A further 16.25 percent sad fees should fall by 5p per litre with just 14.12 percent suggesting costs should stay the same.
It comes after leading campaign group FairFuelUK called on Mr Hunt to introduce a 20p per litre cut to boost the economy.
FairFuelUK founder Howard Cox suggested that reducing fuel duty by 20p per litre would help road users keep around £11 every time they fill up their cars.
