Petrol hits a record high of 140p a litre
Motoring organisations fear fuel will have risen to £1.50 a litre by the end of the summer
Just two days after the Chancellor refused to cancel a fuel duty rise, and five months before it kicks in, petrol prices have reached a record high. The average price of petrol has for the first time exceeded £1.40 per litre – it now stands at 140.20p per litre – while diesel is even higher at a record 146.72p per litre.
Motoring organisations were appalled at the soaring cost of driving and fear that by the end of summer the average cost will have risen further to 150p per litre, an increase of more than 13 per cent since the start of the year.
In the past three weeks alone petrol prices have, according to the AA which released the figures, risen 2.75 p per litre. At the start of the year the average cost of petrol stood at 132.25p per litre.
The consequences of the price hikes include more difficulty balancing budgets for households, which are are already under pressure, and the likely knock-on effect of increases for a range of other products as suppliers attempt to cover higher transport costs. On Wednesday George Osborne resisted pressure to drop or postpone August's planned fuel duty rise of 3p.
David Bizley, the RAC's technical director, said: "A figure of £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, which will force more and more people who need their cars off the road."
Emergency call 'started off dumb, but got pretty serious'
Argentinian scored 'rabona' wonder goal for Tottenham in Europa League – see it here
Far-right organisation has defended its actions on Facebook
Thought you'd seen it all after the Jeremy Paxman interview?
- 1 This 'woman calls police to order pizza' story isn't going where you're expecting
- 2 Watch what happened when food critics were unknowingly served McDonald's
- 3 Jimmy Carr's controversial Oscar Pistorius joke goes a bit too far at the Q Awards
- 4 Ottawa shootings: Bruce MacKinnon's cartoon is the perfect tribute to soldier Nathan Cirillo
- 5 Of course, teenage girls need role models – but not like beauty vlogger Zoella
Isis releases first video showing the stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
FCKH8: Provocative anti-sexism video showing young girls swearing reinstated by YouTube
Diwali: What is the festival of lights – and how is it celebrated around the world?
Jimmy Carr's controversial Oscar Pistorius joke goes a bit too far at the Q Awards
Ottawa shootings: Bruce MacKinnon's cartoon is the perfect tribute to soldier Nathan Cirillo
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Residents should throw a street party and mix with immigrant neighbours, councils told
London bus driver 'kicks gay couple off for kissing'
£4848 - £33600 per annum: Randstad Education Manchester Secondary: Outstanding...
Negotiable: Randstad Education Leeds: Cover Supervisors/Long Term Teaching Ass...
£20000 - £30000 per annum: Randstad Education Leeds: Secondary Science Teacher...
£55 - £70 per day: Randstad Education Leeds: Cover Supervisors needed for seco...