Ministers are under growing pressure from motorists to axe the two fuel duty rises planned for January and August next year.
An e-petition on the Government's website is now just 6,5000 names away from reaching the 100,000 needed to make it eligible for Parliamentary debate.
Campaigners at FairFuelUK say that drivers can't cope with the price increases, which would add another eight pence to the cost of buying a litre of petrol in 2012.
The demand comes after the release of 60 million barrels of oil reserves held by western countries failed to result in a drop in petrol prices.
Instead the stocks were sold to major American banks, some of which were accused of hoarding them.
Conservative Harlow MP Robert Halfon, who has tabled the e-petition, said: "While motorists are now paying up to £1.50 a litre for petrol, some banks appear to have been starving them of the very oil that was meant to reduce prices. If true, this is outrageous. We urgently need cheaper petrol, to get our economy moving again."
Mr Halfon wants the Treasury to axe the scheduled rises next year and put pressure on oil companies to pass on the falling price of oil as many motorists are now paying a tenth of their income on filling up their cars.
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