This marks the sixth successive year that the Government has frozen the main rate of fuel duty at 57.95 pence per litre – the longest fuel duty freeze in over 40 years.

It added that since Budget 2011, fuel duty has been kept at this level, ensuring that pump prices are now 18 pence per litre lower than they would have been if the Government had maintained pre-2010 fuel duty escalator plans.

And the Government also announced that it will start trials of comparative fuel price signs on the M5 between Bristol and Exeter by spring 2016 to drive fuel price competition and help motorists save money.

In response Ashley Barnett, principal consultant at Lex Autolease, said: “The Chancellor’s decision to prolong the tax duty freeze – for a sixth year – has clear benefits for British businesses as many continue to feel the positive impact of lower costs at the pump. The falling cost of fuel had prompted speculation about an imminent rise in duty, but businesses can breathe a sigh of relief, for now at least.

“The ongoing freeze is particularly helpful in alleviating concerns that the downward trend in fuel prices could easily be reversed should oil prices recover and the pound’s depreciation continue.

“The ongoing freeze on fuel duty means that the impact of any future rise will be more keenly felt by businesses already burdened by some of the highest fuels costs in Europe. A move by the Chancellor to reduce fuel duty in future Announcements would help to ensure that firms are not priced off the road.”

Brian Flood, VP Network and Technical Infrastructure of FleetCor – parent company of Allstar, Keyfuels and The Fuelcard Company – added: “The freeze in fuel duty is welcome but we should expect prices to creep by 2-3p up as the recent increase in wholesale prices have not been fully passed on. Retailers have been operating on much reduced margins and we would expect these margins to normalise over the next number of weeks and this will push prices up.”