Supermarket fuel prices have risen every day since the end of March, with average prices at the big four retailers going up by more than eight pence per litre.
On 26 March, average supermarket fuel prices were 116.7p for a litre of petrol and 119.4p for diesel. They have increased to 124.7p and 127.7p respectively, according to RAC Fuel Watch data.
The weak pound and a rise in crude oil prices are to blame.
Average fuel prices across the board have risen by 8.5p - more than supermarket prices, although prices have not risen day in, day out like those of supermarket fuel. A litre of petrol is 128.3p per litre on average and diesel is 131.2p across the UK.
RAC fuel spokesman Simon Williams said: “This is the worst series of consecutive daily supermarket price rises we have seen since we began monitoring this three and a half years ago.”
These fuel prices put the UK 10th among EU member states for the price of fuel. The most expensive is the Netherlands, where drivers pay £1.47 per litre of petrol.
The UK’s VAT on fuel is the lowest among this top 10, while fuel duty is joint sixth highest among the 28 states measured, despite having been frozen for seven years between 2010 and 2017. The UK has the joint eighth lowest pre-tax and duty cost of fuel in the EU, according to RAC foundation data.
Williams warned that there are more increases to come. An increase of 1p per litre across the national average is expected in the coming weeks.
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Good old OPEC
Retailers.......
I love bet the ten pence a litre off when you spend £50.00 will be starting soon!?!
Suits the Government
As the price of fuel rises, so does the VAT the government receives, but perhaps just as significant is that the increase in petrol prices will encourage more people to adopt hybrid or electric vehicles which suits the government's emission targets. Maybe that's not such a bad thing, except the charging infrastructure isn't up to scratch yet and most EVs are either too expensive or lack sufficient range, especially for high mileage drivers.
Will86 wrote:
But the government couldn't give a fig about emmisions. They just want the money, and they'll find ever more inventive ways to get it.
They'll screw the EV drivers soon enough too. Watch.
Taxes
No government, of any political persuasion, gives a fig about emmissions, health or housing. Most readers of these columns could look at Treasury "requirements" and save at least 5%!
Why is it a taboo subject to suggest that the country is run on more commercial lines, I have long advocated a "producer pays" policy, abolish road tax and load fuel duty to reflect usage. I have been a company car user for over 30 years covering up to 40K PA. Why should some auld duffer in a 2K PA Bentley be battered for my excesses. Tax should be proportional, a percentage is a percentage therefore why higher % rates for higher earners?
@ will86
.....thats great for those rich enough to invest large sums of money into buying or leasing expensive new Hybrids/EV's.
For the rest of the country they are being penalised for being less well-off....again, having to buy/run older cars.
@289
That was my point if you read my post again.