Cost of litre of petrol in UK rises more than 7p in a week

Cost of litre of petrol in UK rises more than 7p in a week

The RAC has warned that a new round of fuel price records have been set in the UK with both petrol and diesel rising by a penny in 24 hours.

It comes after the cost of filling an average tank of petrol hit the £100 mark on Thursday.

RAC fuel spokesman Simon Williams said: “Unbelievably the average cost of a litre of petrol has gone up by more than 7p in just a week to 183.16p , and diesel by 4.5p to 188.82p.

“Other price records have also unfortunately been set this morning with the average cost of a litre of diesel at a motorway services passing the £2 mark for the first time ever (200.99p). Petrol at the motorway is also at another record of 197.18p.”

Mr Williams said it is becoming clearer by the day that the UK Government must take further action to reduce the enormous financial burden on drivers.

“But based on statements given yesterday it seems fixated on ensuring retailers are passing on March’s 5p duty cut fully,” he said.

“In doing so, the Government is ignoring the fact that wholesale costs of fuel have absolutely rocketed since then with petrol having gone up 24%, or around 30p per litre, and it’s these higher costs that are driving the current increases at the pumps.

“The Government needs to recognise that the 5p duty cut is therefore a drop in the ocean and more needs to be done now to support drivers who are feeling the pain every time they go to fill up their cars.

“It should also not be forgotten that as fuel prices continue to rise, so does the amount the Government makes in VAT. The 5p the Chancellor gave away in his duty cut in March has already been replaced by the 5p extra he is now making in extra VAT following the invasion of Ukraine just a month earlier. A temporary cut in VAT on fuel, or a deeper duty cut, are surely what is needed now.”