07/11/2007

More Petrol Price Hikes Likely As £1 Litre Mark Passes

The AA has warned that more petrol price increases were likely now that the average price had risen through the £1 per litre barrier.

The forecast comes as the average forecourt price of a litre of petrol passed £1 for the first time ever.

Industry researchers Catalist found that the average litre of unleaded petrol now costs 100.08p, while the average price of a litre of diesel is now 103.32p.

The increase comes as global oil prices reached record figures, due to supply concerns and the weak dollar.

The increase means that UK drivers are now spending, on average, an extra £14.81 on petrol per tank, compared with the same time last year.

(KMcA)


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