Skip advert
Advertisement

Petrol prices hit record high

Average petrol prices have hit a record high of 140 pence per litre, according to the AA

Petrol prices hit record high of 140ppl

The average price of petrol has broken through the 140 pence per litre (ppl) mark for the first time ever, according to the AA.

The record-high price came yesterday – just a day after  the Chancellor George Osborne refused to freeze fuel duty. The planned 3ppl duty hike (3.6p per litre once VAT is applied) will go ahead ifrom 1 August.

Advertisement - Article continues below

Diesel prices are also hovering at record levels. The latest figures from the AA show average prices were at 146.72p per litre yesterday.

AA fuel price spokesman Luke Bosdet said: “This is bad news for drivers. But the really sad news is that the Chancellor effectively gave people £250 a year through raising the personal tax allowance and that is fast being eroded by these sky-high fuel prices. The government should have frozen fuel duty.”

Bosdet said that the Government can’t take all the blame for the record high prices, though. “One of the reasons prices are so high is that the pound is 10 cents weaker against the dollar, and every 10 cents change is worth three or four pence at the pump.

“You could argue that if the Chancellor gets his sums right and his budget allows the pound to strengthen against the dollar that pump prices will fall by a lot more than if he had cut duty by 1p per litre. It could do, but we don’t know that for sure. What we do know is that petrol and diesel prices are already at record highs and we’ll see a 3.6p per litre increase come August.” 

Skip advert
Advertisement
Skip advert
Advertisement

Most Popular

Range Rover Sport SV gets massive £35k price drop as it enters series-production
Range Rover Sport SV Black - front

Range Rover Sport SV gets massive £35k price drop as it enters series-production

There’s also a new SV Black trim, and a Range Rover Sport Stealth Package for non SVs
News
1 Jul 2025
Arrivederci Roma: new Ferrari Amalfi slots in as brand’s latest entry-level model
Ferrari Amalfi - front static

Arrivederci Roma: new Ferrari Amalfi slots in as brand’s latest entry-level model

A slick new look and more power are the headlines for Ferrari’s new baby, but it’s probably some simple new buttons that will get customers’ attention
News
1 Jul 2025
Geely is coming to the UK, and its assault will start with EX5 SUV
Geely EX5 - front

Geely is coming to the UK, and its assault will start with EX5 SUV

Geely has looked to Lotus to ensure it's new electric SUV lives up to our driving expectations
News
2 Jul 2025