You are here: Home - Household Bills - News -

Drivers absorb five weeks of record pump prices

0
Written by:
20/06/2022
Petrol and diesel prices have continued to climb to record highs. But with this week’s rail strikes, some people will have no option but to pay more to drive their cars.

A new record was set on Sunday as the price of petrol hit 188.70p per litre while diesel edged back slightly from 196.10ppl on Saturday to 196.06ppl yesterday.

According to the RAC, more than five weeks of successive record prices has caused a litre of unleaded to rocket 23p from the average 165.5p recorded in mid-May.

This takes the cost of filling up the average 55-litre family car to £103.79, while the diesel equivalent stands at £107.83.

RAC fuel spokesman, Simon Williams, said: “This is yet more bad news for drivers, particularly with this week’s rail strikes leaving many people with no choice but to use their cars. But looking at the wholesale cost of petrol – which has settled due the oil price falling – petrol pump prices really should not continue to rise.

“If anything they ought to begin reducing. Sadly though, diesel looks destined to head rapidly towards an average of £2 a litre which would make a full tank £110.

“We strongly hope the extent of the rises seen in both fuels will finally force the government to take action to ease the burden on drivers by further cutting duty or lessening the punishing impact of VAT which currently accounts for 31p a litre on petrol – 6p more than it was before the Ukraine war began.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week