Thousands head to coast as fuel prices are slashed

Soaring fuel prices and the general rise in the cost of living have been a concern for businesses preparing for the 2022 summer season as well as families, according to a Lincolnshire County Councillor.

However, last week the Chancellor of the Exchequer, Rishi Sunak, threw them a lifeline by slashing fuel duty by 5p for 12 months, delivering a £5 billion tax cut for drivers.

This saving announced in the Chancellor's Spring Statement came into effect immediately at the petrol pumps in the Skegness area, with TD Motors in Burgh le Marsh remaining the cheapest in the area at 153.9p a litre at the time of publication.

However, according to the Auto Express website, the fall in prices is "just a drop in the ocean" and the cost of fuel is expected to remain high despite the 5p duty cut.

This concern is echoed by Coun Colin Davie, Executive Councillor for Economy and Place at Lincolnshire County Council, who says after talking to local businesses he is "very concerned about our coast and tourism sector".

"The last two years living with Covid and now events in Ukraine have created the perfect storm of cost pressures on household income," said Coun Davie.

"Energy costs will continue to rise and whilst events in Ukraine and our relationship with the Middle East will dictate fuel prices I do not expect prices to fall significantly.

"Food costs are going to rise considerably because of recent events.

"Disposable income for leisure and tourism will fall considerably and I am therefore very concerned about our coast and tourism sector.

"I suspect that as the year progresses the situation will become more acute."

Petrol prices at the time of going to press according to petrolprices.com in the Skegness area are:

1. GULF SKEGNESS (T D MOTORS) - 153.9p

2. MORRISONS SKEGNESS - 157.7p

3. ASDA SKEGNESS ROMAN BANK PFS - 158.7p

4. TESCO SKEGNESS - 158.9p