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Diesel prices hit record high
Date: 06 March 2012 | Author: Hugh Hunston
The price of diesel has risen to a record £1.50 a litre in some parts of the country.
Although the average price of diesel at the pumps across the UK is 143.4p according to Arval, motoring organisations have registered "significant pockets" where the cost has risen to £1.50, and there are concerns that unrest in the Middle East will escalate those prices further.
Speculators have driven up the price of crude oil - two years ago a litre of diesel was priced at below £1.14.
Chancellor George Osborne, who reduced fuel duty by 1p a litre in last year's Budget and delayed a planned 3p rise until this August, recently indicated there would be no more action to assist vehicle users.
Labour has, however, advocated a temporary reduction in VAT, which would prompt an immediate reduction in fuel prices.
Meanwhile, fuel price campaign organisation Fair Fuel UK is planning a mass lobby of Parliament on 7 March.
