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Price of petrol hits record high

02 March, 2012

The average price of petrol has reached a record high of 137.44ppl today, exceeding the last peak of 137.43ppl recorded on May 9 last year.

Diesel prices have continued to rise to highest levels on a daily basis since February 17, hitting 144.67ppl today.

According to the AA, UK drivers are spending £6.81m extra a day on fuel compared to a year ago, and £24.2m more a day than they were two years ago.

A week ago petrol stood at 136.09ppl and diesel 143.61ppl; one year ago petrol was 130.44ppl and diesel 135.90ppl; while two years ago petrol was 112.74ppl and diesel 113.79ppl.

The price hikes will put increased pressure on the government to cancel the planned fuel duty rise in August in the Budget later this month, but the Chancellor has signalled that he won’t.

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>> Diesel hits new record high

>> Diesel price hits record high as RMIP makes formal submission to OFT for new review of the market