‘Unfortunate landmark’ as petrol and diesel prices hit another record high

Average petrol prices have reached a new record high of 170.4p a litre, new figures show.

The average price for diesel was 181.4p a litre on Tuesday, according to data firm Experian Catalist.

A year ago today, petrol was 129.0p a litre, with diesel at 131.3p a litre.

UK ‘heading into unprecedented territory’ as energy price cap to rise – cost of living latest

RAC fuel spokesman Simon Williams called it “another unfortunate landmark”.

Advertisement

“While wholesale prices may have peaked for the time being last week they are still worryingly high which means there’s no respite from the record-high pump prices which are so relentlessly contributing to the cost-of-living crisis”, he said.

“We badly need the government to take more action to ease the burden on drivers, which we hope will feature in its announcement expected this week.

More on Cost Of Living

Cost of living: SSE boss defends 23% rise in annual profits and dismisses calls for windfall tax

Cost of living: Qatar willing to help UK but West must also take responsibility, energy minister says

Cost of living: Pork specialist Cranswick demands government saves industry’s bacon

Related Topics:

“VAT at 20% on fuel is currently benefitting the Treasury to the tune of around 30p a litre which seems very unfair when you consider it’s a tax on a tax as fuel duty – despite being cut to 53p a litre at the end of March – is charged at the wholesale level.”

Podcast Due to your consent preferences, you’re not able to view this. Open Privacy Options

Follow the Daily podcast on Apple Podcasts,  Google Podcasts,  Spotify, Spreaker

AA fuel price spokesman Luke Bosdet said there is “still quite some variation in pump prices among fuel stations in most areas”, saying it is “particularly galling” when supermarkets of the same brand charge “significantly more” at one location compared with another in the same region.

The government cut fuel duty by 5p a litre on 23 March, but retailers have been accused of raising profit margins since the policy was introduced.