Fuming motorists have decried the rising cost of fuel, which has reached new highs at the pumps today, as the RAC declared a “national fuel crisis” that could soon see £2 per litre become the norm.
According to road users, some stations have already crossed the 200p mark, including a Gulf petrol outlet in Essex and another forecourt on the M6 in Cumbria.
Motorists have complained about exorbitant prices elsewhere, such as 197.9p per litre unleaded at a Texaco garage in Wales, which was more expensive than the diesel, which was available for 194.9p.
In other parts of the country, a forecourt in Fontwell, West Sussex, was selling diesel for 191.9p per litre, while a motorist in Southampton paid 194.9p.
It came as wholesale gasoline prices hit a new high of 178.5p per litre this morning, up 0.6p in just 24 hours, as the Ukraine conflict and supply chain issues continue to drive up wholesale costs.
Diesel prices have also risen to an average of 185.2p per litre. For both fuels, this is the biggest weekly gain since March.
The timing could not be more inconvenient, as Britons grapple with a rising cost of living crisis exacerbated by a 9% inflation rate.
As a result of the price hikes, some businesses are facing significant financial hardship, with freight companies reporting that the cost of operating one lorry is already up £20,000 from last year, putting the haulage industry ‘in crisis.’
The RAC had previously warned that ‘terrifying’ petrol prices would exceed an average of 180p per litre this week, resulting in a ‘national fuel crisis.’
After figures from data firm Experian Catalist revealed that petrol prices increased by nearly 6p per litre over the half-term school holiday, the motoring body called for “radical government intervention.”
On Tuesday, motorists across Wales complained of exorbitant prices at forecourts, including 197.9p per litre of unleaded at a Texaco garage in Wales (pictured), which was more expensive than the diesel, which was on offer at 194.9p.
On Tuesday, motorists across Wales complained about exorbitant prices at forecourts, including 197.9p per litre of unleaded at a Texaco garage in Wales (shown), which was more expensive than the diesel, which was on offer for 194.9p.
According to government data, the average price of a litre of petrol at UK forecourts on Monday was a new high of 175.6p, up 6.6p from 169.0p seven days before.
Over the same time period, average fuel prices grew by 3.7p per litre, reaching 185.3p.
For both fuels, it was the biggest weekly gain since March.
The cost of filling a 55-litre family car with petrol has now topped £98 for the first time in history, according to RAC fuel spokesperson Simon Williams, after a litre set a new all-time high of 178.5p on Monday.
‘Diesel also hit a new high of 185.2p per litre, bringing the cost of a tank to £101.86.
‘With economists projecting that oil will average $135 per barrel for the remainder of the year, drivers should expect average fuel costs to skyrocket to £2 per litre, bringing the cost of a fill-up to an incredible £110.
‘Oil prices are rising because to increased global demand for petroleum as China relaxes its COvid limitations and America and Europe enter the peak summer driving season.’
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‘The wholesale price of diesel is rapidly reaching 160p per litre, which, when combined with a 7p retailer margin and 20% VAT, would push the pump price above the £2 level,’ he added.
‘We urgently encourage the government to take immediate steps to mitigate the impact of these unprecedented pump costs on drivers.’
‘This obviously is a crisis, as we’ve seen fuel prices climb by 50% in the last year with no sign of a halt, so we absolutely as an industry need to keep on top of this,’ Lesley O’Brien, director of Freight Link Europe, told the BBC’s Today programme.
‘As a country, we must recognize the importance of supporting our transportation industry, which serves as the backbone of the entire economy.’
Ms. O’Brien claimed that gasoline accounts for a third of her company’s operating costs, and that the cost of operating a vehicle has risen from roughly £41,000 to over £61,000 in the last year.
She said that her employer added a gasoline extra to its bills to account for price fluctuations.
‘However, it has never been so high,’ she continued. ‘For example, running one of my arctic vehicles now costs me £20,000 per year more than it did last year.’
The RAC had previously called for stronger action from the government in response to the March fuel price cut of 5p per litre.
Mr Williams, the spokesperson, said: ‘A litre of unleaded is now a terrifying 177.88p, while diesel is 185p, up 2p already this month.