OFT's breakdown of UK fuel prices 2004-2012

A look at the breakdown of petrol prices per litre
A look at the breakdown of petrol prices per litre between 2004-2012. Credit: Office of Fair Trading

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Govt: Economy 'could be worse'

The Chancellor George Osborne has told ITV's Daybreak that the country's economic problems "could be a lot worse", referring to the situation in Cyprus, as he defended his Budget plans to kickstart the recovery.