Petrol prices hits highest over 10-month period
Petrol prices are adding to the worries of motorists as through out the country petrol prices have reached their highest level for the first time over the past 10-month period. On an average, prices of petrol soared to 105p-a-litre after hitting its bottom 85.89p-a-litre in early January.
Britons have witnessed an increase of approximately 20p-a-litre in petrol prices since the beginning of the current year.
Motorists may have bear an additional heat of the price-hikes as analysts are foreseeing another 2.3p rise in prices due to fuel duty, which may be added next week. Earlier, the RAC stated that petrol prices could soar to £1.20-a-litre by December 31 in case VAT returns to 17.5 per cent.
Speaking on the topic, Luke Bosdet, AA spokesman said, "It is bitterly ironic that while we are in recession with people laid off and wages frozen the cost of running a car gets more expensive by the week."
According to uSwitch. com, motorists will have to part with additional £36 million collectively within a month due to the proposed petrol tax increase.
It may be noted here that recently American crude touched 10-month high to settle at $74.49.