Currently reading: Petrol prices 'set for record high'
Petrol prices in the UK could reach £1.20 per litre within the next few weeks

Petrol prices in the UK are set to reach a record high of £1.20 per litre within the next few weeks, according to the AA.

The previous high was 119.7p in July 2008, following huge rises in the price of crude oil. The AA is putting the latest rise in petrol prices down to an increase in the wholesale cost of petrol.

The AA has now called on the government to delay the introduction of a further 3p increase on a litre of petrol. This tax is due to come into effect on 1 April.

“We all know government finances are in dire straits but a 3p rise in fuel duty is not good for the economy and could fuel inflation,” the AA’s president Edmund King told the BBC.

The AA said that families in the UK were now paying an extra £52 per month for petrol.

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theonlydt 17 March 2010

Re: Petrol prices 'set for record high'

Nicksheele summed up everything I was going to say pretty decently. Can't really add to it, but wanted to make it clear that I agreed!

MattDB 17 March 2010

Re: Petrol prices 'set for record high'

What is frustrating is that before Tax we actually have the cheapest fuel in Europe, and I guess the oil companies have done this as their guesture to help us out. Around the EU the wholesale price of fuel is around 3-5p per litre higher, but our rip off government apply fuel duty (even higher for diesel) and then VAT is applied on top so we pay a tax on tax.

If this huge amout of tax benefitted motorists or commuters by repairing our pot hole ridden roads, or ensuring road works were done in half the time, or maybe invested into our rail network so there was a credible alternative, then maybe we all wouldn't get so upset about being ripped off. But this current government take the money and deliver nothing. Taxation should be related to the budget associated with the issue, therfore car tax and fuel duty should benefit transport only.

Problem is we have a government that has perfected stealth taxation, and whilst I couldn't give a damn about how much tax is on cigarettes and booze, fuel duty affects every body as this has a knock on effect to every item of produce that has to be delivered to either a shop or via post, even simple things like school trips or meals on wheels for the elderley go up in price, we all suffer in one way or another.

nicksheele 17 March 2010

Re: Petrol prices 'set for record high'

nicksheele wrote:
an extra £50 a week motoring cost can be borne.

apology: where £50 motoring fuel costs a week can be borne, i.e., a two-car family doing around 300 miles a week combined, consuming around 40 litres of petrol/diesel at a cost of around £50.