PETROL PRICES SET TO SOAR
While we have been enjoying the ‘warm’ weather in the UK, things have also been hotting up across Europe when it comes to petrol prices as a surge in the wholesale cost has seen prices leap there; and in all likelihood will do the same here soon – as much as 5p a litre so the AA warn in a report on Sky News.
Already we have seen UK petrol prices have rise on average from 134.61p a litre in mid-June to 135.78p now, with diesel prices also going up from 139.16p a month ago to 140.24p now.
The AA said: "A $100-a-ton increase in the cost of petrol across northwest Europe, combined with a weaker pound, heralds a potential 5p increase in pump petrol costs."
Putting that into perspective – or real money - should petrol go up 5p a litre then a family living in west London travelling in a family car to Cornwall and back for a family holiday will pay an extra £2.90 for the privilege than it would have done last month. And that’s just from London!
That example was used by the AA because a survey of last year's visitors to Cornwall found that 26% of visitors came from London and southeast England; and that if you take figures of 100,000 trips a year with 86% coming by car, then that’s around £250,000 diverted away from the tourism industry to the very deep pockets of the fuel industry.
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."
At the moment, the cheapest fuel (on average) in the UK can be found in London and the North West (135,5p per litre for petrol), with Northern Ireland the most expensive at 136.6p.
Diesel-wise, again the North-West is cheapest at 139.7p while this time Scotland and East Anglia are the most expensive at 140.8p.
Obviously, we can’t just enjoy the sun. That wouldn’t be right, would it?