With petrol prices at a record high of £1.20 a litre, East End MP John Mason has called on other parties to back the SNP’s proposal for a fuel duty regulator which would stabilise fuel prices.

The SNP Group at Westminster have announced they will be introducing an amendment to the coming UK Budget Bill for the introduction of a fuel duty regulator, and have challenged opposition parties to support its introduction.

Commenting, John Mason says: "Sky high fuel taxes are effectively a poll tax on wheels.  The AA are warning that it will become common for petrol to hit £1.20 a litre in the next few weeks.

"It’s not just haulage companies who suffer.  The effects of sky high fuel taxes also impact on prices in the shops, with delivery costs rising.

"Ordinary East End families are struggling to run a car for normal use. It now costs the best part of £100 to fill up a Ford Mondeo.

"Labour has admitted that they will yet again use fuel tax to hammer household motorists to pay for their bank bail out.  This is simply unacceptable

Notes:

1. A graph showing how fast petrol prices are rising can be viewed here.

2. With fuel at £1.20, the price of filling up a 2007 Ford Mondeo with a fuel tank capacity of 70 litres is £84.00

3. Fuel Duty Regulator

The regulator mechanism is designed to guarantee a double protection for motorists and the road haulage industry. Firstly, higher oil prices would trigger an automatic freeze in fuel duty rates. Second, any extra cash raised from VAT on petrol or diesel as a result of the higher pump prices would go back into an equivalent cut in fuel duty.