The average cost of filling a typical family car with petrol has topped £100 for the first time.
Figures from data firm Experian Catalist show the average price of a liter of petrol on UK forecourts hit a record 182.3p on Wednesday.
This represents an increase of 1.6p from Tuesday, bringing the average cost of filling a 55-litre family car to £100.27. The average price of a liter of diesel on Wednesday was 188.1p.
Some forecourts are already selling petrol and diesel at over £2 a litre.
RAC fuel spokesman Simon Williams said the average petrol price rising above the ‘utterly depressing threshold of £100 per tank’ meant it was ‘a really gloomy day’ for drivers.
He continued: “There will almost certainly be upward inflationary pressure, which is bad news for everyone.
“As fuel prices set new records every day, households across the country may never have expected to see the cost of filling an average-sized family car hit triple digits.”
Mr Williams said many people are hoping for further financial support from the Government as the 5p per liter fuel tax cut ‘seems paltry’ as wholesale petrol prices have risen by five times that amount since its implementation in March.
“A further reduction in customs duties or a temporary reduction in VAT would go a long way to helping drivers, especially those on low incomes who have no choice but to drive,” he added.
Prices on the forecourts of gas stations soared in response to the Russian invasion of Ukraine which pushed the price of oil to more than $120 a barrel.
Experts said the threat of average pump prices rising above £2 a liter in the near future had receded as wholesale prices fell slightly.
But oil supplies remain tight and a new shock could push fuel prices even higher. An EU embargo on imports of Russian oil announced last week will be phased in over the rest of the year, putting further pressure on supplies.
AA fuel price spokesman Luke Bosdet said: “The £100 tank of petrol was dreaded and was particularly unpleasant for workers filling up their cars with the return to work after Jubilee.
“The jump of more than 8 pence a liter in the average cost of petrol over a week was a huge shock.”
Downing Street said on Wednesday that retailers who fail to pass on a recent fuel duty cut could be named and humiliated.
The Prime Minister’s official spokesperson said: “Transparency can have an important role to play.
“It is important that the public understands the actions taken by each of the fuel retailers and so we are looking at what other options we can take in this area.”
Businesses are also being hit hard by record fuel prices which have pushed up the cost of transportation and impacted the price of other goods.
More about this article: Read More
Source: www.independent.co.uk
This notice was published: 2022-06-09 09:49:44
