Fuel prices set to soar

July 22, 2013 | By | In News

Motorists looking to make the most of the heat wave by heading down to the coast over the next fortnight could face a larger than expected fuel bill, with pump prices set to rise by up to 4p per litre.

The rise in prices, which has been driven by an increase in the wholesale cost of oil, follows a 1p increase already this month, and would mean that the price of petrol is some 8p more per litre than this time last year.

A typical trip from London to popular holiday destinations in Cornwall is set to cost around £3 more following the rise.

Despite facing increasing pressure, the Government currently has no plans to cut the duty imposed on fuel, which accounts for around 80p of the cost of a litre when combined with VAT.

AA president Edmund King said: “After the price of petrol stabilised at around 134.6p a litre through much of this June, and weeks were filled with beautiful weather and sporting excellence, it was perhaps inevitable that oil and fuel market speculators would cast a black cloud over what was promising to be a glorious summer.”

Some coastal towns popular with holidaymakers are already taking advantage of the summer rush by charging around £2.50 more on average for a tank of fuel, compared to the rest of the country.

Picture: Fotolia

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