AA reports biggest monthly petrol price rise in a decade
The organisation's latest fuel price report shows that the average price of petrol jumped over the last month from 122.14p/litre to a new record of 128.27 while diesel prices went up 6.56p a litre, from 126.19p/litre last month to 132.75 now.
Compared to a year ago, petrol now costs 16.3ppl more and diesel 18.98. Filling a typical 50-litre fuel tank has risen £8.15 for petrol and £9.49 for petrol.
The AA said that the fuel duty and VAT rises this month have accounted for the majority of the latest increase, adding around 2.5p more to the pump price. However, wholesale costs have also seen an increase of around 5%, driven by oil prices surging past $90 a barrel.
Edmund King, the AA's president, said: 'Unless the Government can restore a more affordable level of fuel prices, by scrapping the fuel duty increase in April and bringing in a fuel price stabiliser, the falling tax return from constantly rising prices will reduce the income to the Treasury. Sooner or later, politicians will have to face reality – more and more drivers cannot afford these prices, they are pushing up inflation and taking money from other consumer spending.'