The announcement, made yesterday (30th September) in the Chancellor’s keynote speech, comes as the Conservative Party and Labour continue to battle over the cost of living.

The freeze follows this March’s Budget where the Chancellor had already scrapped the 3p per litre scheduled for last month and, according to the Petrol Retailers' Association (PRA), will ensure the longest period of duty freeze (4 years, 4 months), in over 40 years if the announcement goes ahead as planned.

PRA chairman Brian Madderson said: ‘The PRA has been lobbying Government and the Treasury to make an early announcement about their intentions on freezing fuel duty, so it is welcoming news to hear the Chancellor’s commitment.

‘Although this is a step in the right direction, it is disappointing that the announcement was dampened with a comment by George Osborne saying, “provided we can find the savings to pay for it”. The PRA will continue to liaise with government and we hope to see further developments in due course.’

The RAC Foundation added its views, with Professor Stephen Glaister saying: 'Transport is the single biggest area of household expenditure bar none and our own research shows that 800,000 of the poorest households are in transport poverty, spending a quarter or more of their income on running a car. This proposal will be welcomed but let's not forget that the Chancellor still takes 60% of the price of a litre of fuel in the form of taxation.'