Petrol prices could rise after the Rachel Reeves budget (Image: Javier Zayas Photography via Getty Images)

A significant rule alteration in the coming days could cause petrol and diesel costs to soar, industry specialists warn. Chancellor Rachel Reeves is allegedly mulling over axing a 5p fuel duty freeze that has remained in effect since 2022.

This measure has assisted in maintaining lower forecourt prices to support families during the cost-of-living squeeze. However, everything could shift if the Chancellor opts to eliminate the freeze.

Should the duty be scrapped, it will trigger an instant spike in forecourt costs, reports Birmingham Live . This means motorists might wish to capitalise on existing prices available and top up their vehicles ahead of any declaration at the Bu

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