This article was last updated on April 16, 2022
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The petrol price has hit another record after breaking through average cost of 140p-a-litre mark for the first time.
According to the AA, the current prices at pumps have reached 140.20p a litre, or £6.27 a gallon, with diesel at a new record of 146.72p. The rise in the petrol prices have been witnessed a rise of more than 2.75p a litre merely in three weeks, while the cost was only 132.25p a litre at current year’s start. On the other hand, the diesel price at 2012’s beginning stood at an average of 140.56p.
The AA has revealed that for a car owner consuming, on average, 106.17 litres of petrol a month, current year’s 7.95p-a-litre increase in prices have made an extra addition of £8.44 to the monthly fuel bill. Motorists have become unhappier who were already despaired by the chancellor’s decision not to cancel a fuel duty increase set for August.
The motoring organization has told about the factors behind this increase in petrol prices included the pound’s weakness against the dollar. The pound is continuously falling against the dollar for every 10 cents; the motorists were paying additional 3p or 4p at the pump.
AA spokesman, Luke Bosdet has stated that although oil prices had slightly reduced, the market remained instable and further increases could not be stopped. Mr. Bosdet has believed the government’s optimism that prices would fall before the introduction of a 3p increase in fuel duty in August.
The RAC’s technical director, David Bizley has said: “£1.40 a litre is a massive price for people to have to pay and there is no end in sight to rising prices. The way things are going the planned duty rise will see average petrol prices hit the £1.50 a litre mark – forcing more and more people who need their cars off the road.”
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