Petrol at highest price since 2008
Friday 19th March 2010, 9:44AM GMT.
Average petrol prices have risen 4p a litre in the last four weeks, taking them to the highest level since July 2008, the AA said today.
With a “trinity” of increases due in the next few days, the average could rise to a record 124p a litre just after Easter, the AA added. Its latest figures showed that the average price of a litre of petrol has risen from 112.10p in mid-February to 116.09p now – with 3p of the rise coming in the last two weeks.
The price of diesel has risen from 113.84p a litre in mid-February to 116.87p a litre now.
The 4p increase in petrol prices has added £2 to the cost of filling a typical 50-litre petrol tank and added £8.49 to the monthly cost of fuel for a family with two petrol cars.
AA president Edmund King said: “With Easter approaching, a new trinity of wholesale price rises, fuel duty increase and lost biofuel subsidy will descend on UK drivers to make sure that any bank holiday motoring fun and relaxation will be tempered by a steep rise in the cost of refuelling.”
The AA said that if the rise in petrol wholesale prices – from around 680 US dollars a tonne a month ago to approaching 800 dollars now – is passed on to the pump, the resulting extra 4p increase would lift prices above the all-time high of 119.7p a litre reached in July 2008.
A 3p increase in fuel duty and VAT on April 1, together with another 1p rise from the loss of the subsidy on biofuel due the same day, could lift the price of petrol to 124p a litre. That overall 8p increase on the current pump price would increase the monthly fuel spend for a family with two petrol cars from £246.50 to £263.30.
Across the regions, Yorkshire and Humberside continues to be the cheapest area for petrol (115.0p a litre) and for diesel (115.9p).
London (116.7p) has the most expensive petrol with Northern Ireland being the dearest for diesel (117.6p).
Mr King said: “If price increases turn out as badly as we fear, they will become an important issue in the coming general election.
“The AA has 15 million members, including families, people on fixed incomes, lower wage-earners who rely on cars to get to where they can find work, young drivers who can only afford to stay at home and have to drive to their first job, volunteer drivers and many other types.”
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Absolute joke, when is the price going to come down, we need to block petrol stations like we did when it got to 1 pound a litre, show them the customers right not the fat cats
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Mr King is either very young or very forgetful.
Just to jog your memory being as you think it will become an important topic at the next election. Mrs Thatcher came into power and for a few years increased petrol by inflation PLUS 6 1/2%.
Look forward to the next Tory Government.
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The true reason for the increase in petrol costs is purely down to the greedy oil companies.
They are closing down refineries in the US and Europe to force up the price of petrol as if they don’t make enough profits already.
They have stated over capacity in the US. Yet a couple of years ago when prices were at a record high, they put that down to over capacity. Which is it?
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How on earth could i log a comment without multi expletives? I think Im going to see how long it takes me to walk to work……………..
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Greedy oil companies? They are not charities they are in business to make profits.
Just like banks, insurance companies and pharmaceutical companies they have a product that EVERYONE needs.
The biggest problem is the government of the day who sees that every financial shortfall is to be met by the motorist.
Look how much fuel duty and VAT there is on each and every litre of fuel.
The cost of oil now is roughly $80 us dollars per barrel. It reached $149 us last year but the pump price didn’t rise pro rata.
I wish I could offer the good folks of the country I was raised in and still love, an answer.
You ARE being fleeced by Gordon Brown and I’m sure you will be if/when the Tories come to power
My sympathies lie with you all.
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Glyn, it’s not the government who are pushing up the oil price. I know we all hate how the government are treating us all with contempt at the moment, but blaming them for current petrol pump price rises (the already stupid duty and the coming 3p duty aside) is bonkers. I bet you blame them when you forget to buy milk for your cornflakes too. No, it is the oil companies who are currently having a laugh at our expense.
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My car no longer moves at the weekend . It is saving me petrol (and yeah yeah the environment) but annoying that I pay car tax for a car I’m having to keep off the road at weekends.
Rising fuel prices = businesses going bust = rising unemployment = higher social security bill = higher taxes for those left working to pay for it all – when is anyone in this tinpot government going to work this out? The oil and gas companies are prolonging this recession. These companies should be paying higher coporation tax
On the plus size I should be a size zero by Easter walking up and down to the shops all weekend!
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is it really the oil companies? here in Canada our prices are the lowest they’ve been for a bit, at the equivalent to 59p per litre, a long way from a couple of years ago when it was equivalent of 34p per litre but not as bad as the highs of 80p per litre we had last year. Surely if they were pushing up prices in the UK we’d see the same here if it was the oil companies.
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