Petrol hits record high

The average cost of a litre of petrol has risen to 137.44p, topping the previous all-time high of 137.43p a litre set in May 2011.

Latest ITV News reports

Labour calls on Chancellor to cut VAT to lower petrol prices

Cathy Jamieson MP
Cathy Jamieson MP Credit: ITV News

The Shadow Economic Secretary to the Treasury Cathy Jamieson has said: “These record petrol prices come at a time when hard-pressed families are already being hit hard by tax rises and spending cuts that go too far and too fast.

“A temporary cut in VAT, part of Labour’s five point plan for jobs, would give immediate relief to hard-pressed motorists by taking 3p off the price of a litre of petrol and help jump-start our stalled economy too.”

Advertisement

Countryside Alliance asks for Chancellor's help over petrol prices

Not only do people living in rural areas have to drive further to go to work, further to access essential services like schools, doctors and the supermarket, but they have to pay a lot more for their diesel to do so.

The cost of fuel is a major concern for everyone who lives in the countryside, and cars are fast becoming an unaffordable necessity for many rural families.

We urge the Chancellor to help the rural economy get back on its feet and to cut fuel duty in his forthcoming Budget."

– Countryside Alliance executive chairman Barney White-Spunner.

UK drivers spend more than £6.8 million extra a day on fuel

Petrol pump
Petrol prices are soaring in the UK. Credit: Reuters

The price of petrol has risen by more than 1.25p a litre in the past week.

Overall, UK drivers are spending more than £6.8 million extra a day on fuel compared with a year ago, and more than £24 million more a day than they were two years ago.

It is now costing drivers around £3.45 more than it was a year ago to fill a typical 50-litre tank with petrol, while the cost has risen about £12.30 compared with two years ago.

The extra monthly cost to a family with two petrol cars, each consuming an average of 106.17 litres a month, has risen by more than £2.65 in the last week, about £14.65 in the last year and around £52.24 in the last two years.

AA: Petrol prices are hunting families

This new record for petrol and diesel just confirms what every family and business knows - fuel prices are hurting them badly and there seems no stopping them.

We have asked the Chancellor to do what he can to protect the UK economy from fuel market volatility and record high prices which are stemming growth.

There is no more give in family and business budgets despite them cutting back on fuel purchase and other spending so they can get to work and go about their business.

Britain cannot get back on its feet if fuel prices hold drivers and business to ransom every time market sentiment takes hold."

– AA president Edmund King.

Petrol and diesel prices hit record high in the UK

Petrol pumps
Petrol prices hit a record high, says the AA Credit: Reuters

Hard-pressed motorists are paying record high prices for petrol, it has been announced.

The average cost of a litre of petrol has risen to 137.44p, topping the previous all-time high of 137.43p a litre in May 2011, the AA said.

The rise puts more pressure on Chancellor George Osborne to reduce the tax burden on drivers in his Budget later this month. Diesel is up to 144.67p a litre which is another new record.

Advertisement