Drivers warned over petrol price hike by Sunday | Tech News
Drivers are being warned about a potential petrol price rise of up to 10p a litre by the tip of the week.
The battle within the Middle East has escalated this week, with the US and Israel bombing Iran with Iranian missiles then being fired on the likes of Dubai inflicting journey chaos.
The raging warfare has had a knock-on impact on key transport routes and an quick spike within the price of oil, which instantly impacts petrol costs.
Speaking on GB News, TruthfulFuel UK’s Howard Cox warned that drivers may face a leap in petrol costs by as a lot as 10p by the tip of the week.
He mentioned: “The big worry for me at the moment, because we had a 20 per cent increase in oil prices in the last week, is that we will get something like a 5p to 10p increase at the pumps. I think that could come through by the end of the week.”
He additionally criticised Chancellor Rachel Reeves over her resolution to not delay the tip of the fuel obligation rise again. Having been prolonged a number of instances already, the federal government has not opted to delay the ending of the short-term 5p cut on petrol and diesel again, with the tax break slowly being faraway from September.
Mr Cox added: “She missed an opportunity here, a massive opportunity. All she had to do is say I’ll cancel the fuel duty rise for another year, that’s all she had to do.”
They said that a price rise is ‘inevitable’ but that drivers should not ‘change their routine’.
AA president Edmund King said: “Pump prices in the coming weeks will inevitably increase, at worst in the short-term back up to where they were at the start of year. Petrol in February had been at a low of 131.9p a litre. It had started this year at 135.7p a litre.
“The silver lining is that the country is coming out of winter and the fuel efficiency of cars improves significantly with warmer weather: engines are no longer straining with cold starts or toiling to power heaters, lights and wipers. Typically, car owners see an improvement of three miles per gallon as they get more range out of a tank of fuel. As a rule of thumb, each 1mpg change is equivalent to 1p on or off a litre of fuel.
“There is no need for drivers to break their refuelling routine. As well as better fuel efficiency, it takes time for cost increases to work their way through to the pump. Supermarkets tend to hold their prices down for longer. However, with the Government’s Fuel Finder pump-price transparency now becoming established, drivers will soon be able to spot all the cheaper fuel stations locally and locate where to keep their fuel costs down”.
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