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Tuesday, January 18, 2022

Petrol prices reach all-time high in the UK

Petrol prices in the UK reached a record high yesterday while diesel fell slightly short of its previous record, according to new data.

The average price for petrol in the UK was 142.94p a litre which has surpassed April 2012’s record of 142.48p.

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Diesel prices hit 146.5p a litre, which is slightly short of its all-time high of 147.93p in April 2012.

AA fuel price spokesman Luke Bosdet stated that these record pump prices are a strong indication that drivers need to make the switch to electric-powered cars.

“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.”

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He added, “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.”

Since the beginning of the year, oil prices have significantly spiked from around 50 dollars per barrel to 85 dollars per barrel.

RAC fuel spokesman Simon Williams warned that if oil prices increased as high as 100 dollars, the price of petrol may reach 150p per litre.

IMAGE (left) – “PM Boris Johnson speaking at the opening of the UK-Africa Investment Summit in London, 20 January 2020” by DFID – UK Department for International Development is licensed under CC BY 2.0

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