Petrol prices set to soar by end of the year
20/08/2009

A Petrol Pump

Fuel prices are likely to hit last summer's record highs again by the end of this year, according to the RAC.

Since the beginning of 2009, pump prices on forecourts across the country have already added £11 to the cost of filling the average tank. But the RAC predicts that increases in fuel taxes and crude oil costs could see that figure soar by Christmas - warning that a gallon could rise to £5.40, meaning it will cost £72 to fill up the average tank.

John Franklin, of the RAC, said: "Hard pressed motorists have seen a steady rise in the price of petrol since the start of the year which sees no sign of ending. And to make things worse the Government will be adding a further 2.3p to the price when fuel duty goes up on September 1.

"With the additional increase in December, when VAT reverts back to 17.5 per cent, it is looking more and more likely that petrol prices will head towards last summer's record highs of 120p a litre."

Another fuel crisis is likely to see a dramatic increase in the number of people car-sharing. "We usually see about 4,000 people a month signing up to share their empty car seats," said Ali Clabburn, founder of Liftshare.com. "But last summer - at the height of the fuel crisis - 16,000 signed up in June alone.

"Petrol prices affect all of us who have cars, but it is possible to avoid being too hard-hit by joining up with others and sharing the journey."

Comments

There are currently no comments posted for this article.

Comments are temporarily disabled.

Other news stories