Gasoline returned above 1.65 pounds per liter for the first time after Rishi Sunak reduced the fuel tariff by 5 pensions – as warned by AA, drivers should be prepared for a “much bigger” increase
- The average price of gasoline in the UK rose to 165.05 pensions on Wednesday – for the first time above 1.65 pounds after the Chancellor on March 23 announced a reduction in fuel duties
- This week diesel also reached 179.55 per liter – just 0.35 pence from the UK record
- AA says prices that drivers can expect will see drive prices rise in the coming weeks
- Increased summer demand in the US traditionally overstates the price of oil at this time of year
The price of refueling will reach a record high in the coming weeks, warned AA after confirming that average gasoline prices rose above £ 1.65 per liter – for the first time since lowering fuel tariffs in March.
Official figures show that the average price for unleaded petrol has now reached 165.05 pennies, while diesel has fallen by half a pence from a record UK high after reaching 179.55 pennies this week.
The automotive group says drivers should tune in to the rise in pump prices “much higher” and “prepare their finances for further substantial increases”.
Gasoline has returned above £ 1.65 a liter for the first time since fuel tariffs were cut, and diesel is within half a penny of a new record high: AA warns drivers need to prepare for “much bigger” growth in the coming weeks
On Wednesday, the average price of petrol in the UK exceeded 1.65 pounds from March 23, the day of the spring statement of Risha Sunaka, where he announced measures to relieve the burden of the cost of living crisis for Britons.
The day before the chancellor announced that he was immediately reducing the amount of tax paid on each liter of fuel by 5 pence, unleaded was at a record high of 167.30 pence.
On March 23, it fell below 1.65 pounds and until yesterday did not rise above that price.
As drivers of cars with diesel engines are already paying almost record prices for the pump, the difference in the price of refueling compared to last year is sharp.
12 months ago, the suburbs took an average of 127.97 pence for gasoline and 130.30 for diesel fuel – 37.08 and 49.25 pence per liter less than today.
That means refueling a conventional 55-liter petrol tank now costs £ 90.78 compared to £ 70.38 a year ago, AA says, an increase of 29 per cent.
For those using a Transit-type van, the cost of refueling an 80-liter tank is almost £ 40 more expensive, rising from £ 104.24 in May 2021 to £ 143.64 this week.
The average price of petrol in the UK remained below £ 1.65 per liter after the Chancellor on 23 March announced a reduction in fuel duties by 5 pence.
A group of motorists says that in the coming weeks the country’s drivers expect worse, despite the fact that their cars in the next few months will be more economical than in winter.
“Gasoline prices seem to rise much higher in the coming weeks, and people who rely on their cars for important daily trips, such as commuting, need to prepare their finances for further substantial increases,” said Luke Bosdet, AA spokesman. fuel prices. .
“Summer weather and more driving in daylight will damage the rise in pump prices.
“Vehicles should get more fuel consumption compared to March.”
AA said pump prices are always re-adjusted to the spiral, as rising summer demand in the U.S. typically overstates the price of oil at this time of year.
“Drivers’ attention will be drawn to the rapid rise in prices at the sites,” Bosdet added.
“On the one hand, the increase in prices was predictable, given that the summer car season always leads to higher gasoline prices – demand in the US is always growing and increasing the cost of goods.
“However, rising oil prices and the weakening pound have also contributed.”
What is a fuel surcharge?
When the Chancellor announced a reduction in the fuel rate by 5 retirees per liter, it provided a convenient time to give you a refresher course on what it really is.
Rishi Sunak confirmed in a spring statement that he had reduced the fee per liter of fuel from 57.95 per liter to 52.95 pence as part of efforts to lift the burden of record prices for petrol and diesel for motorists.
This is only the second reduction in fuel duties in 20 years (the first was in March 2011), and the lower rate will be maintained until March 2023. RAC expects that this will reduce the cost of filling a typical 55-liter family gasoline car by about 3 pounds sterling.
Here we explain how much fuel duty contributes to the total cost of petrol and diesel when it was introduced, how expensive it is compared to taxation in other countries and what the future holds for collecting if cars switch to electricity. .
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