Fuel Price To Hit £1.50 Per Litre

Mon 1st Nov 2021

The UK’s petrol price spiral is set to continue upwards as all areas of the country push beyond the previous record high of 142.48p.

There are now seven regions of the UK which have surpassed that level, with the South East and London leading the way.

The cost of a litre of unleaded petrol has jumped by 28p in a year, with the price at 114.5p this time last year, a spike which added an extra £15 on to the cost of filling an average family car.

While Chancellor Rishi Sunak tried to alleviate some of the pain at the pump by keeping fuel tax frozen in last week’s budget, the situation is not being helped by the price of a barrel of oil, which has more than doubled from $40 to $86 and could be expected to jump even higher according to Howard Cox, founder of FairFuelUK: "We predicted a month ago that pump prices would hit £1.50 per litre before the end of 2021. Now its likely to happen as early as December. The impact on low-income families, small businesses, hauliers and the supply chain is crippling and getting worse,” Cox said.

“The Budget was an opportunity missed by Rishi Sunak to help UK’s 37million drivers. With pump prices breaking new highs every day, it means the Treasury is benefiting in billions of unexpected VAT pump receipts which are growing by the hour. This huge excise windfall to the Exchequer should now be passed on to consumers, by lowering Fuel Duty. Don’t forget, VAT is also charged on the Duty itself. A deceitful double taxation that sticks in the motorist’s craw. We are out of the EU, so let's take back control of our taxes and stop taxing a tax."