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Petrol Prices Hit A Record High Across The UK

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Petrol Prices Hit A Record High Across The UK

Prices at the petrol pumps have reached an all-time high, according to new data.

The average UK price of petrol hit 142.94p a litre on Sunday, beating the former record, set in April 2012, by 0.46p.

Credit: James Bell/Alamy Stock Photo
Credit: James Bell/Alamy Stock Photo

Meanwhile, diesel prices reached 146.5p a litre on Sunday, short of its all-time high of 147.93p.

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AA fuel price spokesperson Luke Bosdet said: "Whether it's down to oil producers, market speculators, Treasury taxes or struggling retailers trying to balance their margins, record pump prices must be saying to drivers with the means that it is time to make the switch to electric.

"As for poorer motorists, many of them now facing daily charges to drive in cities, there is no escape. It's a return to cutting back on other consumer spending, perhaps even heating or food, to keep the car that gets them to work on the road."

Credit: PA Images/Alamy Stock Photo
Credit: PA Images/Alamy Stock Photo

A 20-mile round trip today would cost around 25p for the driver of a small electric car with a cheap energy supplier. For someone driving a small petrol car the same journey would cost 10 times more, the AA said.

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The data has all been calculated by Experian Catalist which is then provided to the RAC and AA.

The latest figures are a major rise from the early days of the pandemic when the price of petrol collapsed to a low of 106.48p in May 2020.

The rebound is much quicker than the two-and-a-half years it took for prices to recover after the 2008 financial crash, the AA said.

RAC fuel spokesperson Simon Williams, said: "This is truly a dark day for drivers, and one which we hoped we wouldn't see again after the high prices of April 2012.

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"This will hurt many household budgets and no doubt have knock-on implications for the wider economy.

"The big question now is: where will it stop and what price will petrol hit? If oil gets to 100 dollars a barrel, we could very easily see the average price climb to 150p a litre."

Petrol on sale at a BP garage in 2012. Credit: PA Images/Alamy Stock Photo
Petrol on sale at a BP garage in 2012. Credit: PA Images/Alamy Stock Photo

Prime Minister Boris Johnson's official spokesperson announced: "We recognise rising fuel costs are a challenge for the British public.

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"We continue to provide support for those that need it on the cost of living."

Ahead of Wednesday's Budget, the spokesperson would not be drawn on whether Chancellor Rishi Sunak will increase fuel duty, adding to the burden on motorists.

Asked whether fuel giants should take a hit to their profits instead of passing on rising prices to drivers, they said: "We would always want to see providers ensure they are providing good value to their customers."

Featured Image Credit: PA Images/Alamy Stock Photo

Topics: UK News, News, UK

Rebecca Shepherd
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