|  Updated: 

Rishi Sunak spikes fuel hike plans

By:

Add as a preferred source on Google
2021 Conservative Party Conference - Day Two
MANCHESTER, ENGLAND - OCTOBER 04: Rishi Sunak, Chancellor of the Exchequer delivers his keynote speech during the Conservative Party Conference at Manchester Central Convention Complex on October 04, 2021 in Manchester, England. This year's Conservative Party Conference returns as a hybrid of in-person and online events after last year it was changed to a virtual event due to the Coronavirus pandemic. Boris Johnson addresses the party as its leader for the third time. (Photo by Ian Forsyth/Getty Images)

Chancellor Rishi Sunak will scrap plans to hike fuel duty in the upcoming Budget, according to the Sun.

The levy was due to go up next year from 57.95p per litre to 60.79p.

The duty will be frozen for the second time this year.

The decision follows petrol prices rocketing to record levels across the UK.

The average price per litre hit a record 142.94p on Sunday, with soaring oil prices and retailers blamed for the spiralling costs.

The Sun has reported that MPs have now been privately assured by the Treasury that the scheduled 4.9 per cent rise for 2022 will not go ahead.