Petrol fuel prices

Petrol and diesel prices show no signs of slowing down, reaching 178.50p and 185.20p per litre respectively.

However the fact that we get a higher percentage of diesel from Russia than petrol means the advantage has swung the other way again. In fact, arguably it is much easier from a delivery point of view than it is getting fuel to urban filling stations.” Supermarket forecourts usually offer the cheapest fuel prices and this is because of the market power supermarkets hold. This has forced the UK to import diesel from other countries at a greater rate than petrol. Currently, the Treasury adds 57.95 pence to each litre of fuel through fuel duty, and another 20 per cent through VAT. How much you pay in VAT depends on how much fuel you purchase. Part of the problem is down to the fact that relatively low barrel prices in recent years have put plans to drill for new reserves on hold. There are persistent rumours that supermarket fuel contains fewer additives and is of lesser quality than fuel from traditional forecourts, but there’s little hard evidence of this. Motorway fuel stations also pay high rent prices for the buildings they operate. The wholesale cost is a combination of currency exchange rates, global oil prices, and even domestic supply and demand. This has pushed up prices, with analysts warning there is limited capacity to increase supplies if flows from Russia are affected by sanctions,” the Financial Times newspaper has reported. The sanctions levied against Russia so far have targeted banks and oligarchs rather than the country’s energy sector, but factors such as Germany’s postponement of the Nord Stream 2 gas pipeline will have an effect on the energy market overall. With Russia having launched a full-scale invasion of Ukraine and facing international sanctions, there’s potential for significant disruption to supplies.

The never-before-seen prices have led the RAC to declare a 'national fuel crisis', warning that the 200p per litre threshold could soon become the norm.

SUNDERLAND: The 200p per litre threshold has already been breached at forecourts across the country. It is the largest weekly increase for both fuels since March. STOKE-ON-TRENT: The price of diesel is 193.9 while unleaded petrol is 186.9 at a Shell petrol station near Stoke-on-Trent Thieves Land indeed!' Motorists blast the rising cost of fuel, with one reporting 194.9p per litre of diesel in Southampton WALES: Motorists complained of eye-watering prices at forecourts across the country on Tuesday, including 197.9p per litre of unleaded at a Texaco garage in Wales (pictured) - which was more expensive than the diesel, on offer at 194.9p 'With analysts predicting that oil will average $135 a barrel for the rest of this year drivers need to brace themselves for average fuel prices rocketing to £2 a litre which would mean a fill-up would rise to an unbelievable £110. STOKE-ON-TRENT: The price of petrol is displayed as a staggering 186.9p per litre at a gargae near Stoke-on-Trent today (June 7) FONTWELL, WEST SUSSEX: The cost of diesel has also surged to an average price of 185.2p per litre, with a forecourt in Fontwell showing an extortionate 191.9p (pictured today) Motorists have complained of eye-watering prices elsewhere, including 197.9p per litre of unleaded at a Texaco garage in Wales - which was more expensive than the diesel, on offer at 194.9p. Among the most outrageous was a BP garage on the A1 near Sunderland, which was selling a litre of unleaded and diesel for 202.9p and 204.9p respectively. The cost of diesel also surged to an average price of 185.2p per litre.

Furious drivers have told of their shock as they were being forced to pay more than £2 per litre at some motorway services in England as fuel prices hit ...

Petrol prices set a new average record of 178.5p per litre this morning after soaring by 0.6p in just 24 hours. "With drivers facing such a dire situation on the forecourts, we badly need further intervention from the Chancellor," the group said in an online post. Diesel costs £2.04 at the same fuel station. I’d sooner abandon my car and walk the A1." The cost of diesel also surged to an average price of 185.2p per litre in the largest weekly increase for both fuels since March. At Washington South services on the A1 between Sunderland and Newcastle, LBC found a litre of unleaded cost an eye-watering £2.02 per litre.

Motorists are being squeezed at the pumps more than ever, as new government figures reveal the cost of both petrol and diesel has soared to record levels ...

The EU is far more reliant on oil and has so far committed to drop its usage by around two-thirds. Petrol prices have surged 36.5% in a year, rising by four times the rate of inflation. “It’s a pace that is obliterating people’s disposable income. The UK is hoping to totally phase out the use of Russian oil by the end of 2022. The UK only gets around 6-8% of its crude oil from Russia and a 2020 Autocar report estimates around 18% of UK diesel is from the country. Simply, oil prices are rising because it is more in demand and this has been made worse by the war in Ukraine.

As oil prices continue to soar, drivers need to brace themselves for petrol prices to hit £2 a litre, the RAC has warned.

This, coupled with a reduction in refining capacity, has created a shortage that is pushing up the cost. "The cost of filling a 55-litre family car with petrol has now topped £98 for the first time in history," said Simon Williams, a spokesperson for the RAC. The cost of filling a tank of petrol hits £98 for first time in history - and prices are still climbing

PETROL and diesel prices are breaking records on a near-daily basis, which has resulted in almost a quarter of van drivers turning down jobs, which could ...

DON'T MISS Will petrol prices go down? DON'T MISS Will petrol prices go down? Nearly one in four van drivers have turned down job opportunities because petrol and diesel prices mean certain jobs are not cost effective.

RAC declares a national fuel crisis: petrol will hit record £2 per litre 'within weeks' · THE COST of fuel is out of control in the UK as major industry experts ...

The cost of living crisis, the raging inflation, and semiconductor shortages have all had a massive impact on the struggling industry. It was a 17.7pc increase compared with the same month in 2021. Overall, the sales of new cars in the UK have hit one of the worst points in 30 years. The number of new UK registrations fell by over 20 percent in May compared to last year. The number of electric models purchased last month surged to 15,448, a 20pc jump on a month earlier. Many drivers have already made a switch to electric cars in the face of the cost of fuel.

Drivers are being warned that average petrol prices will top £1.80 a litre this week, as fuel prices continue to rocket. The average cost of a litre of petrol ...

8. Tesco Failsworth, Oldham Road, M35 0EJ: petrol 169.9p; diesel 181.9p 9. Sainsburys Denton, Oldham Street, M34 3SJ: petrol 169.9p; diesel 179.9p 7. Tesco Blackley, Victoroa Avenue East, M9 6HP: petrol 169.9p; diesel 181.9p 6. Tesco Gorton, Hyde Road, M18 8LD: petrol 169.9p; diesel 180.9p 4. Morrisons Failsworth, Oldham Road, M35 0AM: petrol 168.7p; diesel 179.7p 5. Morrisons Chorlton-cum-Hardy, Wilbraham Road, M21 0SD: petrol 169.7p; diesel 181.7p

Data firm Experian Catalist said a litre of petrol cost an average of 180.7p on Tuesday.

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Drivers have reacted with anger after petrol prices in Doncaster topped £2 a litre – as the cost of fuel reaches a record high.

Petrol prices set a new average record of 178.5p per litre this morning after soaring by 0.6p in just 24 hours. AA fuel price spokesman Luke Bosdet said: "Shock and awe is the only way to describe what has been happening at the pump during the half-term break. "The wholesale price of diesel is fast approaching 160p a litre which, when you add 7p retailer margin and 20% VAT, would take the pump price over the £2 mark. "The oil price is rising due to increased demand for fuel across the world as China eases its Covid restrictions and America and Europe go into the peak summer driving season. RAC fuel spokesman Simon Williams said: "With analysts predicting that oil will average 135 US dollars a barrel for the rest of this year, drivers need to brace themselves for average fuel prices rocketing to £2 a litre, which would mean a fill-up would rise to an unbelievable £110. The cost of diesel also surged to an average price of 185.2p per litre in the largest weekly increase for both fuels since March.

Average price at 180.73p, with cost of filling family car threatening to exceed £100 for first time.

A similar increase on Wednesday would break the £100 barrier for the average cost of filling a tank for a 55-litre family car. A litre of petrol cost an average of 180.73p on Tuesday, according to the data firm Experian Catalist – up an astonishing 2.23p compared with the previous day. The price of petrol at UK forecourts has made its biggest daily jump in 17 years, as the cost of filling a family car threatens to exceed £100 for the first time.

The latest jump takes the cost of filling up a 55-litre family car to £99.40, with prices set to break through the £100 mark as soon as Thursday. Diesel drivers ...

Sadly, it seems we are still some way from the peak.” The RAC has warned that the sustained rise in wholesale costs will push up pump prices to £2 a litre, taking the cost of filling up to £110. Petrol prices have surged by more than 2p in just 24 hours as the cost of filling up a full tank of fuel hurtles towards £100.

Analysists predict the cost of filling up an average 55-litre family car could top £100 in a matter of days. The price of diesel and unleaded petrol fuels ...

“Sadly, it seems we are still some way from the peak. With VAT taken into account, the overall saving came to 6p per litre. The UK is not heavily dependent Russian natural gas, which makes up less than four per cent of our supply. Russia is one of the world’s largest crude oil exporters, second only to Saudi Arabia. EU leaders have agreed to ban most Russian oil imports by the end of the year, and the US has also announced a total ban. When global economies began to recover, the price shot up as demand rose sharply.

The average price of petrol across the UK rose to 180.73p per litre on Tuesday.

4=, Texaco, Hinkley Road, Walsgrave - 171.9p (June 4) 4=, Sainsbury's, Herald Way, Canley - 171.9p(June 6) 4=, Texaco, Jubilee Crescent, Radford - 171.9p (June 4) The government says any increases in VAT receipts it gets from rising fuel prices will largely be offset by reduced household spending and VAT on other items. The average price of petrol rose to 180.73p per litre on Tuesday, motoring group the RAC said. Petrol shot up more than 2p a litre at forecourts across the land yesterday to heap even more financial pressure on cash-strapped drivers.

MOTORISTS are feeling the pressure at the pumps as fuel prices climb.Short supply and soaring demand has been blamed as wholesale prices quickly creep.

The next cheapest supermarket was a Morrisons just one mile from the centre of the city. Two miles away from the centre of Brent, petrol prices cost just 165.7p. An Asda 1.5 miles away from the centre of Coventry cost 169.7p for petrol. A store 2.4 miles away from the centre boasted prices of just 169.7p. It cost the same price from another of the supermarket's forecourts further in land though - an Asda 3.4 miles away from the centre costs 171.7p too. Residents in Leicester can get comparatively cheap petrol from Asda 1.3 miles from the centre of the city, at 166.7p. We found an Asda around 1.3 miles from the centre that was cheapest at 171.7p per litre. Using the Confused.com petrol price comparison tool, our research analysed petrol prices at forecourts near the centre of Croydon within a five mile radius. The Sun used Confused.com's petrol price comparison to look at petrol prices in six of the most populated postcode areas of the UK. Here are the cheapest petrol prices we found in the highly populated postcodes. But motorists will find that many of the cheapest prices can be spotted on the supermarket forecourts. It just adds to the pressure households are already facing from rising energy bills and the increased cost of living that is also pushing up the price of food and travel.

Zero-growth warning for UK as petrol prices surge and OECD says Britain will be weakest economy in G7 next year.

A squeeze on capacity at refineries has also kept pump prices high, while oil has fallen from peaks seen at the start of the war in Ukraine. He has asked the Competition and Markets Authority to examine the issue. Japan, Germany, Italy, France and the US are the other members of the group. Despite the demands of some Conservative MPs, Sunak has no immediate plans for tax cuts and intends to wait until the budget in the autumn before coming up with another package of support. It said the UK would be the weakest economy in the G7 group of leading industrial nations next year. Before Russia’s invasion in late February, petrol and diesel were hovering around the 150p mark.

The average cost of filling a typical family car could exceed £100 as soon as Thursday, the RAC warns.

The AA motoring group said the 2p litre rise was a "huge shock", but said the speculation that petrol prices could rise to £2 per litre on average "just gives the fuel trade licence to pile on extra cost and the misery". Inflation - the rate at which prices rise - hit 9% in April and is expected to continue to rise this year. The UK - which gets 8% of its oil needs from Russia - has pledged to phase out Russian oil by the end of the year and though it is not as dependent on Russian oil as the EU is, it is impacted when global prices rise. In response, Asda said wholesale fuel prices had increased "at an unprecedented rate" and "we will do all we can to minimise the impact of rising wholesale prices on our customers". Retailers base their prices on the wholesale cost of petrol and diesel but there is typically a two-week lag for pump prices to reflect any changes in wholesale prices due to the time it takes for fuel to reach forecourts. But he said while the average price of diesel is heading towards £2 a litre, the cost of wholesale petrol had unexpectedly dropped by about 5p a litre on Tuesday, which if sustained, could stem the flow of "daily record petrol prices".