Budget 2012: Fuel duty increase gets go-ahead

Chancellor George Osborne has said a 3.02 pence per litre fuel duty increase will take effect on 1 August as planned.

The chancellor said fuel duty would not rise faster than inflation, unless oil prices were to fall below £45 a barrel, well below Crude oil's current market price of about $125 a barrel.

He also announced that vehicle excise duty would be frozen for road hauliers.