Petrol price reaches new record high
The average price of a litre of unleaded at the pumps hit 121.76p a litre. According to the AA, this is now 11.88p a litre more expensive than a year ago and has exceeded the previous record of 121.61p reached on 12 May this year.
Diesel prices are still below the record high of 133.25p a litre set on 17 July 2008 and currently stand at an average of 125.73p a litre. However, diesel is still 14.21p a litre more expensive than a year ago.
The AA said that the latest rise in prices puts added pressure on household budgets.
In a statement, the organisation said: 'Although the wholesale price of petrol has risen sharply in the past fortnight, there is a growing feeling of helplessness among drivers with winter travel disruption and ever-rising fuel costs. If current prices persist, the new year increase in fuel duty and VAT will push petrol prices up to 124p a litre.
'Our only hope is that either oil and fuel markets settle back down or the pound strengthens against the dollar. Until then, it is an even more uncomfortable ride for families trying to keep their cars on the road.'