Petrol prices set to hit record £1.22 a litre

[-:Undertaker:-]

http://www.dailymail.co.uk/news/arti...fiteering.html

Petrol prices continue to soar in the UK

Motorists faced renewed misery today as petrol prices hit a new record high of 121.76p a litre. In some parts of London petrol stations are charging almost £1.29 per litre. After a week enduring traffic chaos in the Big Freeze, drivers will now be hit with a huge bill at the pumps - as soaring prices add an extra £25 to the monthly bill of a two-car family.

Every gallon of petrol - the official 'miles per gallon' measurement of car fuel efficiency - now costs more than £5.80, making the average fill-up a hefty £60.88. It will be a bitter blow to families across Britain, who are already struggling with higher food and heating bills. British Gas today brought in a seven per cent hike in its gas and electricity prices.

The supplier's eight million customers will have to pay an extra £80 a year on average to heat their homes as annual bills increase from £1,157 to £1,237. It comes as the country is on course for the coldest winter in a century.

Escalating oil and wholesale fuel prices - and alleged profiteering by oil giants and retailers - are blamed for the increases in petrol prices. Prices are likely to rise even higher in the New Year when the VAT rate goes up another 2.5 per cent - to 20 per cent. The previous record for petrol of 121.61p was set on 12 May 2010. The AA, which has accused oil giants and fuel retailers of profiteering, has predicted highs of up to 124p in the coming weeks.

At the beginning of 2010 petrol averaged 109.88p a litre.

The extra monthly cost of petrol for a two-car family is now £24.80.

The record price for diesel is 133.25p set on 17 July 2008.

We're still being ripped off left right and centre, always makes me laugh and was something that was predicted before this government got in - when the Tories attempt to raise the price/tax of something there's absolute outrage (tuition fees), but when Labour are in for some reason nobody hears a peep despite taxes almost doubling across the board under the last Labour government. The graph above (green one) isn't even updated to 2010, but you can see within those years just how much petrol went through the roof.

This just puts me off even bothering to learn to drive, you have the insurance ontop of the car along with road tax and then there's rip off petrol prices thanks to a greedy government. We are actually reaching the point where people aren't going to be able to afford to drive (usually the poorest who suffer the most as they'll be trapped in terms of employment to their local area only).

Didn't Cameron promise an offsetting policy though which was intended to keep the fuel price stable? looks like that got dropped (suprise suprise).

Thoughts?

[Dean]

Isn't VAT meant to rise to 20% in January 2011 and if so - more tax!

I also guess that now there's more cars on the road, there's more demand in petrol which is probably why petrol has become more expensive over the years?

[Special]

why is everything going up? tuition fees, fuel, VAT, what next?

i think it's about time we stopped giving to other countries & focus on ourselfs

whoever thinks we are a rich country is in denail

[matt$]

Yeah we need to stop giving and start taking.

[Shar]

why is everything going up? tuition fees, fuel, VAT, what next?

i think it's about time we stopped giving to other countries & focus on ourselfs

whoever thinks we are a rich country is in denail

Completely agree. This is absolutely ridiculous :|
As long as they don't charge me more for using public transport, I'm good.

[Special]

Completely agree. This is absolutely ridiculous :|
As long as they don't charge me more for using public transport, I'm good.

funny that because they've just raised the price for a return ticket :|

[Shar]

funny that because they've just raised the price for a return ticket :|

It costs me about £4 from college at back everyday lol and now they've got rid of EMA.
No point of buying a car, it will cost me a lot to drive to college now. :|

[Eoin247]

Petrol prices are also rising here in Ireland, this is largely due to the tax increase that was put in place with the recent budget.

But yeah i'm learning to drive and i have a savings fund for a car, this totaly puts me off doing either of these things any more.

[Swastika]

Another reason why our country is terrible.

[Ajthedragon]

Sadly, we will just have to use more public transport or bicycles.

Lets just hope its not peak oil.