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Brexit fuels 5p/litre pump rise, claims Lib Dems

Date: 09 May 2017   |   Author: Daniel Puddicombe

The falling value of the pound against the dollar since the EU Referendum has added 5p a litre onto the cost of petrol, data from the Liberal Democrats has suggested.

According to the political party, the average price of fuel has risen by 7p a litre since the vote last year, with a third of the increase being put down to a rise in international oil prices, and the rest attributed to sterling's slump against the dollar.

The Lib Dems said this increase adds £2.50 to the price of every fill-up, or £60 a year for the average motorist.

On 20 June 2016, petrol cost 111.2p a litre compared with 118.1p a litre on 1 May 2017 - a 6.2% (6.9p) rise - while diesel rose by 7.6% (8.5p) from 11.3p to 120.8p during the same period.

"Theresa May claims that Brexit is going to be a great success. The reality is it's going to make us poorer. The effects are already being felt. The rise in fuel costs will push up prices in the shops. This means consumers are going to be hit twice, once at the pump and again at the checkout," said Nick Clegg, Liberal Democrat Europe spokesman.



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