Fuel hits a record high of 140p a litre

Just 2 days following the Chancellors decline to stop a petrol and diesel duty rise, and five months in advance of it, fuel prices are the highest they have ever been. The cost of petrol has for the very first time topped £1.40 per litre – it now stands at 140.20p per litre – while diesel is peaked at a record 146.72p per litre.

Driving organisations were annoyed with the rising cost of driving and panic that by the end of summer the average price will likely have gone up additionally to 150p a litre, a rise greater than 12 per cent since the beginning of the year.

In the past three weeks alone petrol and diesel costs have, according to the AA, that unveiled the stats, increased 2.85 p per litre. At the beginning of the year the regular price of petrol was about 132.22p per litre.

The outcomes from the cost hikes comprise additional problems on budgets for families, who are without a doubt under burden, and the likely knock-on effect of price rises for a selection of other products as suppliers endeavour to deal with greater transport expenses.

On Monday the UK government resisted pressure to decrease or postpone August’s scheduled petrol and diesel duty price increase of four pence.

A spokesman for the RAC said: “A cost of £1.40 a litre is a considerable cost for people to need to pay and at this time there is not an end in sight to rising petrol and diesel prices. The way everything is going the projected duty rise will see average petrol prices reach £1.50-a-litre level, that can push ever more people, who need cars, off the road.

James Lyn School of Motoring provide intensive driving lessons in Billingham and the surrounding areas.

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