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Petrol set for record high

Date: 01 April 2010   |   Author: Sam Burnett

filling up

The AA has predicted that petrol prices are set to soar to record levels in the next few weeks as the average price across the UK has increased by 2p in the last fortnight.

According to the AA's March fuel price report, prices are set to hit 124p a litre over coming weeks as a massive increase in wholesale fuel prices, the fuel duty rise and withdrawal of a Government subsidy for biofuel producers take their toll.

AA president Edmund King said: "Drivers' relief at the Chancellor not raising fuel duty by 3p on April Fool's Day will be short-lived if prices continue to rise. The immediate rise of 1p per litre will cost 50p a tank more to fill up."

Rising prices have meant that drivers have cut back on fuel, as the AA has also revealed that petrol sales fell nearly 10% between October and December 2009.