Wednesday, 11 January 2017

UK petrol prices reach highest level in two years ~ Government

UK petrol prices have climbed to their highest for over two years with prices at some pumps hitting the £1.35 a litre, Government figures show.

Motorists filling up at the pumps are now paying around £1.18 a litre for petrol, the Department for Business, Energy and Industrial Strategy said.

At an average of £1.21 a litre, the cost of diesel has reached its highest since January 2015. In five weeks, the cost of both petrol and diesel have gone up by over 4p.

According to comparison site, the cost of a litre of unleaded petrol is as high £1.35 at some UK pumps.

Higher prices at the pumps have been triggered by a deal by OPEC and other major oil producing countries to freeze production

The cost of a barrel of oil has gone up from around $45 in mid-November to $56 by the end of December.

Howard Cox, founder of the FairFuelUK campaign, warned that many motorists are being forced to pay even higher prices.

He told the Press Association: 'The reported average figures hide the reality that hard-working Brits are paying even more in rural areas and where supermarkets are few and far between.
 'In these areas drivers are paying as much as 12p per litre more, having no choice but to pay these opportunistic, profiteering fuel suppliers.
'With dozens of FairFuelUK-supporting MPs, we're recommending an independent PumpWatch body to ensure everybody understands how road fuels are priced for millions of drivers to get the fairest and most transparent pump deals possible.'
Earlier this month, figures from the RAC revealed that motorists are paying £8 more to fill up their tanks with petrol than a year ago.
Diesel-car owners are forking out £10 more at the pumps than a year earlier, the RAC added.
The RAC's data revealed that the South East is the most expensive region for diesel and petrol, while Northern Ireland is the cheapest.

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