Seven UK regions now paying above 2012’s record high petrol price
Petrol prices hit a new record high on Sunday, but data suggests they have further to go with the cost of unleaded in seven UK regions now exceeding the previous record level.
The latest RAC Fuel Watch figures show the East, East Midlands, London, North West, South East and South West are all paying more than the previous record high of 142.48p a litre reached in April 2012.
Drivers in the South East are paying the most for petrol at 143.57p, followed by those in the East at 143.38p, the South West at 143.18p and then London at 143.09p.
Scotland (142.36p), Wales (142.43p), Northern Ireland (140.69p), the North East (141.70p) and Yorkshire and the Humber (142.26p) are the only places in the UK where the average cost of a litre of petrol is still below the old record price.
RAC fuel spokesman Simon Williams said: “With oil now at $86 a barrel and retailers taking more margin per litre than they did nine and half years ago, it surely won’t be long before every nation and region of the UK, perhaps apart from Northern Ireland, exceeds the 2012 high petrol price of 142.48p a litre.
“These high prices will be hurting households and businesses everywhere and could have a damaging effect on the economy at a time when it is recovering from the worst impact of the pandemic.
“We urge the Government to help ease the burden at the pumps by temporarily reducing VAT and for the biggest retailers to bring the amount they make on every litre of petrol back down to the level it was prior to the pandemic.”