Shadow chancellor Ed Balls has urged the Government to use the £500 million underspend from the Olympics to cover the cost of scrapping a 3p increase in fuel duty due to take effect in August.
Supermarket giant Sainsbury's sparked the latest round of the petrol price cutting war by announcing it will reduce its forecourt prices by 3p a litre.
Pensioners were the big losers from today's Budget, with the news 4.4 million will pay more tax from April 2013, at an average loss of £83 each per year. This has been dubbed the new 'Granny Tax'.