Once again, fuel prices have broken a new record in the UK – with the price of filling an average diesel family car nearly reaching £100…
Record High Prices for Petrol and Diesel
At the risk of sounding like a broken record, fuel prices have once again reached a record high in the UK. It now costs an eye-watering £98 to fill the tank of an average diesel family car. For a typical petrol, prices aren’t far behind at £92. That works out at an average of £1.67 a litre for petrol and £1.79 a litre for diesel.
However, there are many reports of drivers paying significantly more throughout the country; with some petrol stations charging in excess of £2.00 per litre. It had been hoped that prices would start to decline, with promising signs emerging last week. However, continued disruption in the oil market caused by Russia’s invasion of the Ukraine continue to dash hopes.
‘Spiraling Costs’
Simon Williams, the RAC’s fuel spokesman, spoke of spiraling fuel costs. He said, “the window for pump prices to come down appears to have been well and truly closed; with both oil prices and therefore wholesale fuel costs once again rising after last week’s big drop; putting yet more pressure on households and businesses. In just the last week, the average cost of a litre of petrol has gone up 3.5p and diesel by a staggering 5.5p”.
He continued, “drivers faced with spiraling costs when they fill up will undoubtedly be looking to the Chancellor to act in Wednesday’s Spring Statement, so suggestions that fuel duty may be cut from its current level of 57.95p in every litre of fuel sold will be widely welcomed. While there has been talk of a 5p cut in fuel duty, this may not be deep enough to make a real difference to drivers who are facing the highest ever costs to fill their tanks”.
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