Petrol Costs Soar
Motorists are struggling to cope with the ever increasing fuel costs that seem to have crept up relentlessly over the last decade. Now, average petrol prices across the UK have reached an all time high, and a whopping 120p per litre. Due to these depressing figures, the RAC have predicted that the future for motorists will be bleak.
Since the beginning of 2010, we have watched the price increase due to an increase in fuel’s wholesale price, and also because of the weak pound. There has also been a rise in the fuel duty that was since 2008, and added on 10p per litre to petrol. This rose by another penny last week.
As you can imagine, the nation’s motorists were furious when the Government declared in it’s budget that the fuel duty would be increasing by another 2.5 pence. The only consolation that they could offer was that this increase would be staggered, with a 1p rise due to be introduced in October, with the rest added on in January 2011.
These costs affect people from all walks of life, all over the country. Many of our Romford escorts need to drive into the city on a daily basis, and the mileage is really taking it’s toll. Motoring is unavoidable for those who live in less built up areas; most of the country does not have as much public transport available as there is in London. They must drive their children to school, drive themselves to work and drive to the supermarket; unfortunately there is no other option but to pay up for these high fuel prices.
The previous high was in July 2008 when the national average cost of petrol peaked at 119.7p, but this figure has now clearly been topped. The main cause of the rise in costs is from the source; crude oil (which is used to make petrol) has risen above $87 per barrel, and has been increasing steadily since the beginning of February. Recently, it had only cost $69 per barrel.
The scary thing about this average figure is that many people will be paying more than 120p per litre; in some areas the cost is over 130p per litre, with lower prices in other areas. Simple day to day tasks are now becoming a struggle to afford for the country who have only just managed to pull themselves out of a recession. With the elections looming, motorists will be keeping a keen eye on what each party intends to do about this unaffordable cost.