Petrol Prices Hike

Petrol Prices Hike


26th August 2009
Motorist have yet again been delivered the bad news of potentially large increases to the cost of fuel. It has been suggested by the motoring organisation RAC that due to the rising cost of crude oil we could be paying around 1.20 a litre for fuel by the end of the year.

The current speed at which fuel prices are rising has reached about 1 pence per week and with an additional fuel duty increase of 2.3 pence in September, the average cost of a litre of diesel is more than likely to reach 107.9 pence.

Fuel prices in the UK have hit similar figures in the summer 2008 when the cost oil topped out at monstrous US$147 a barrel.

The news has come as a major blow to the UK road haulage industry which is already struggling in the recent recession, any extra costs to the haulage firm could be disastrous. Many fear the September fuel duty increase will spark anger across the country resulting in petrol blockades in protest bring the country to a stand still.
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