Come March, UK drivers could see major changes to new licence plates along with a potential rise to fuel prices. Motorists will have to wait for the chancellor’s budget on March 15 to see how fuel prices could change going forward.
On March 1, new licence plates will be issued in the UK. Newly-registered cars will immediately bear a "23" number plate if purchased between March 1 and September 1, 2023.
Two new licence plates are rolled out each year to signify the age of the car. The second licence plate will affect cars registered after September 1, 2023 and will be updated to “73”.
UK drivers should also keep an eye on fuel duty as the government is set to bring forward the 2023’s spring budget. Fuel duty was cut by 5p per litre in 2022 to support motorists through the cost of living crisis but with these changes set to expire, all eyes will be on the Chancellor’s next move.
The Office for Budget Responsibility has warned the biggest cut to fuel duty in history could be reversed and increase by 12p instead. When Rishi Sunak announced the spring budget last year, the price of petrol was 40p higher than the previous year.
However, in January 2023 average petrol prices were down to 148.89p per litre - the lowest since prices spiked amidst the Russo-Ukraine war. RAC fuel spokesman Simon Williams has warned the downturn won’t last forever.
“Although January saw fuel prices fall for the third month in a row, there is now more cause for concern than celebration as petrol has already begun to creep back up very slightly”, he has said.