Cost of filling up average car hits £100 as petrol prices soar
The TelegraphThe Competition and Markets Authority said if evidence was found the 5p fuel duty cut had not been passed on it would launch an investigation, with fines for offending retailers possible. Petrol price rises are just one aspect of the financial squeeze on households which will see the biggest drop in household disposable income since records began in the 1950s, according to official government forecasts. In some locations it meant petrol overtook diesel as the most expensive fuel per litre, although on a national basis average diesel prices also hit another record high of 188.05p, according to RAC figures. “With average prices so high there’s almost certainly going to be upward inflationary pressure, which is bad news for everybody.” The Government’s 5p fuel duty cut, announced on March 23 when the average litre cost 177.5p, was effectively wiped out by mid-May when prices reached another record high of 178.4p.
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