Planned government increase to take effect April 1st
Fuel prices are set to rise again when a planned government increase takes effect on April 1st. The AA has met with treasury ministers to argue that the 2p rise should not go ahead. Soaring price rises in the early part of the year have finally levelled off and between mid-February and mid-March the average UK price of petrol fell. The average cost of petrol dropped from 90.88p to 90.56p. The average cost of diesel went down from 100.79p to 99.77p a litre.
Three of the four main supermarkets have raised their average petrol prices while most non-supermarket retailers have lowered theirs. Nevertheless, supermarkets remain broadly 1.4 pence a litre cheaper than the other retailers
The EU has launched a probe of fuel prices on the continent. Motorists will welcome this investigation, many fail to understand why even with a thirty percent loss in the value of the pound against the dollar petrol is 90p a litre with oil at 45 dollars, the last time UK petrol cost 90p a litre oil was priced at 68 dollars.