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Petrol prices have hit nine-year high highest point since September 2012

Petrol prices have hit nine-year high highest point since September 2012

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It means that petrol is now just 2p a litre off the record high that was recorded in April of the same year.

The average price of petrol has reached its highest point since September 2012. It means that petrol is now just 2p a litre off the record high that was recorded in April of the same year, according to information released by RAC Fuel Watch.


Data shows that prices have soared by nearly 26p a litre in just 12 months - an increase of 22 per cent on the 114.50p a litre it was during the same period last year. The cost of the barrel of oil is said to be the main factor behind the spike in prices. During the same 12-month period, it has doubled in price from $41 to $83. Another contributing factor has been September’s switch to E10 petrol. Due to the increased ethanol content up from five to 10 per cent, this has added an extra penny to the price.


RAC fuel spokesman Simon Williams said: “With just two weeks to go until COP26, the uncomfortable truth for the Government is that petrol prices are now reaching unprecedented levels and, along with rising domestic energy prices, will be putting a huge financial strain on households that depend on their vehicles and, in turn, the economy. We call on the Government to take action and do whatever it can to help ease the burden on drivers.

“While the cost of oil has more than doubled in a year, the price drivers pay at the forecourt is compounded by the fact there is nearly 58p in fuel duty charged on every litre. And, on top of the delivery cost and the retailer’s margin, you’ve then got VAT which currently accounts for 23p a litre – this has added 4p more a litre in just a year.”


The RAC has recommended that a temporary cut in fuel VAT be introduced in order to help out motorists.

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