The debate has been called by Robert Halfon, Conservative MP for Harlow, who said: 'The cost of petrol and diesel is the number one issue in my constituency of Harlow and across the UK. Motorists and businesses are genuinely suffering, and the high fuel price is an obstacle to bringing jobs back and getting our economy moving again.

'I have campaigned on this issue for many months, meeting with the Prime Minister and raising this frequently in the House of Commons. I welcome what the Government did in the recent Budget to cut fuel duty and to avoid Gordon Brown's planned tax hike. However, we still urgently need transparency. The oil price is falling internationally, but hard-pressed British motorists, businesses and road freight companies are still paying inflated prices at the pump.

'That's why I have written to all the major energy companies, to ask if they will lower their prices across the country. I am delighted that MPs will be given the opportunity to debate this vital issue.'

The news was welcomed by FairFuelUK campaign, which is backed by the RAC, the two major road freight bodies, the Road Haulage Association and the Freight Transport Association and over 155,000 members of the public.

Following the debate, Mr Halfon will formally announce the formation of an All Party Working Group on FairFuelUK at a press conference to be held on College Green at 2PM.

RHA chief executive Geoff Dunning said: 'This Parliamentary move comes during a period of mounting anger from businesses and the motoring public that despite a fall in oil prices,  pump prices have stayed high. For many haulage companies, the current situation is becoming untenable. A permanent solution to stabilise the price of fuel must be found.

'The Chancellor of the Exchequer promised a workable solution to stabilise the price of fuel in his April Budget. We MUST see this implemented as a matter of extreme urgency because for many, time is running out.'