Home Breaking News There is no escape for motorists as petrol prices hit an all time high

There is no escape for motorists as petrol prices hit an all time high

by LLB staff reporter
25th Oct 21 10:35 am

Petrol prices have reached an all time high just as motorists are facing daily charges to drive in to cities.

On Sunday petrol reached an ll time high of 142.94p a litre, whilst diesel prices hit 146.5p just short of the 147.93p which was the all time high.

Luke Bosdet, the AA’s fuel price spokesman, said today, “Whether it’s down to oil producers, market speculators, Treasury taxes or struggling retailers trying to balance their margins, record pump prices must be saying to drivers with the means that it is time to make the switch to electric.

“As for poorer motorists, many of them now facing daily charges to drive in cities, there is no escape.

“It’s a return to cutting back on other consumer spending, perhaps even heating or food, to keep the car that gets them to work on the road.”

RAC fuel spokesman Simon Williams said, “This is truly a dark day for drivers, and one which we hoped we wouldn’t see again after the high prices of April 2012.

“This will hurt many household budgets and no doubt have knock-on implications for the wider economy.

“The big question now is, ‘where will it stop and what price will petrol hit?’

“If oil gets to 100 dollars a barrel, we could very easily see the average price climb to 150p a litre.

“Even though many people aren’t driving as much as they have in the past due to the pandemic, drivers tell us they are just as reliant on their cars, and many simply don’t have a choice but to drive.

“Those on lower incomes who have to drive to work will seriously struggle to find the extra money for the petrol they so badly need.

“We urge the Government to help ease the burden at the pumps by temporarily reducing VAT, and for the biggest retailers to bring the amount they make on every litre of petrol back down to the level it was prior to the pandemic.”

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