Currently reading: Fuel prices set to soar
Oil prices rise; fuel duty and VAT hikes coming

Petrol prices are set to rise by up to three pence per litre this week, and will rise again several times in the coming months, the AA has warned.

The average price of a litre of unleaded is currently 103.1 pence, while diesel is at 103.9 pence.

This week's hike is expected to be around three pence per litre, and follows a recent rise in the wholesale costs of oil.

A further two pence per litre is scheduled to be added on 1 September, when a fuel duty rise comes into force.

The final scheduled price rise will then come into effect in January, when the Chancellor restores the UK rate of VAT to 17.5 per cent from 15 per cent.

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