Misery for motorists continues as petrol prices rise almost 8p a litre since January
The average cost of a litre of unleaded petrol in the UK has broken through the 140p mark for the first time, causing more misery for motorists already disappointed by the chancellor's decision not to cancel a fuel duty increase set for August.
Figures from the AA show drivers are now paying an average of 140.20p a litre ? almost 8p a litre more than at the start of the year. The price of diesel has also hit a new record of 146.72p.
The AA said that the owner of a car consuming, on average, 106.17 litres of petrol a month would now be spending �8.44 a month more than at the start of the year.
The motoring organisation said there were a number of factors behind the increase, including the pound's weakness against the dollar. For every 10 cents the pound falls against the dollar, it said motorists were paying another 3p or 4p at the pump.
AA spokesman Luke Bosdet said that although oil prices had fallen slightly, the market remained volatile and further rises could not be ruled out.
"I'm hoping we are nearing the top of where the fuel price needs to go," he said. "It's a very delicate balancing act but unfortunately there is nothing delicate about the way it is ravaging family budgets."
Bosdet said he believed the government was hoping prices would fall before the introduction of a 3p increase in fuel duty in August.
The RAC's technical director, David Bizley, 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."
Data from the website Petrolprices.com showed the average price of petrol breaking through the 140p barrier on Wednesday, and highlighted the wide variation in what motorists are paying, even within the same city.
Drivers in London are paying an average of 140p a litre for unleaded petrol, but prices range from 134.9p to 145.9p, while in Edinburgh the average price paid is 137p a litre and costs range between 135.7p and 141.9p.
Source: http://www.guardian.co.uk/money/2012/mar/23/petrol-prices-rise
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