British Motorists May Face Record Fuel Prices

Motorists in the UK, once again, face the prospect of record high fuel prices due to the rising cost of oil…

Record Fuel Prices

Fuel prices in the UK could soon reach record highs, as the price of oil edges towards $100 a barrel; largely as a result reduced output from Organization of the Petroleum Exporting Countries (OPEC). It means British motorists are now paying 151.21p for a litre of diesel. Petrol prices are just 0.05p away from the record high of 147.67p recorded last November; although it’s already been surpassed in London and much of East Anglia and the South-East.

These rises come at a time when the cost of living is soaring throughout the country; placing severe strain on businesses and millions of households. There’s little sign of prices stabilising, either, due to soaring post-pandemic demand and the disruption caused by tensions between Russia and Ukraine.

No Justification for Price Leap

Simon Williams, fuel spokesman for the RAC, has argued that there’s no justification for increasing fuel prices. He said, “at the moment, we can’t see any justification for a big leap in forecourt prices so we’re urging retailers to continue taking normal margins on each litre they sell. This will ensure drivers, many of whom depend on their vehicles, aren’t forced to pay even higher prices”.

The motoring organisation has argued that the rising prices are even more dubious, given that fuel retailers charged excessive prices back in November.

Whilst prices continue to climb, it’s crucial that drivers shop around and assess their options – saving money in the long-term by being increasingly selective.

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The Autoserve Club can save you time, money and stress. Club Members can receive discounts on servicing and new tyres and will gain access to our professional 24/7 helpline. To learn more, contact our friendly Service Advisers on 0121 521 3500 today.

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