Rocketing Petrol Prices at Record High as Drivers are Forced to Spend £8m a Day More Than a Year Ago
The price of petrol has once again soared to record high levels, causing some UK families to reconsider their Christmas getaway plans in order to avoid possible bad credit debt.
The average price of petrol has risen from last week’s record of 121.76p a litre to 122.14p, a figure equivalent to £5.55 a gallon.
“This new increase, although it may only seem a small price per litre, will push those who are already up against bad credit debt to their limit.”
The AA have urged the Government to consider scrapping the scheduled 1p a litre tax hike in January and the annual ‘inflation plus 1p’ fuel duty hike whilst global oil prices remain so high.
Edmund King, president of the AA, said; “If current prices persist, the new year increase in fuel duty and VAT will push petrol prices up to 124p a litre.”
The Citizen Advice Bureau dealt with 9,000 new debt problems every day in England and Wales during September this year, and with petrol car owners now being forced to spend £8 million a day more on fuel than a year ago, this figure is only likely to increase.
The AA has accused oil giants and fuel retailers of ‘profiteering’ against a background of rising wholesale fuel and oil prices.
Brian Madderson, chairman of the petrol retailers’ trade association (RMI Petrol), ‘strongly refuted’ claims by the AA that they are simply ‘profiteering’, blaming the rising wholesale cost of petrol on the recent increases.
In real terms, the increase means the cost of filling an average family car with a 50 litre petrol tank has risen by £6.81, from £54.26 to £61.07.
The average two car family will see its monthly petrol costs rise from last year’s figure of £230.41 to £259.35.
“When taking into account how many litre’s a tank of petrol contains, the price rise really mounts up and will hit hard the wallets of people already fighting off bad credit debt,” confirmed Mr James of Bad Credit Loans 4 You. /auto-loans-for-people-with-bad-credit.html
“It’s no wonder that people who were considering a 200+ mile trip to see their relatives or friends at Christmas, are thinking of making a u-turn and staying at home.”
Petrol prices at conveniently located motorway service stations are up as high as 129.9p per litre, equivalent to £5.90 per gallon.
According to research by the AA, average petrol prices have increased by 3.06p a litre between mid-November and mid-December.
The duty to be imposed by the Government, plus the higher rate of VAT at the start of the New Year will only see the price rise further.
London and South East England have the most expensive average petrol price, at 122.7p a litre, while Scotland and Wales have the dearest diesel, at 126.7p.
Remote regions in northern Scotland have to contend with paying petrol prices more than 130p a litre.
Drivers near Ullapool in the Scottish Highlands and Stornoway on the Isle of Lewis are required to pay 129.9p and 133.9p respectively per litre of petrol, whereas diesel costs around 135p a litre in the area.
AA president Mr King said; ‘This is a bleak midwinter for millions of drivers.”
“Two-thirds of drivers are cutting back on journeys, cutting back on other expenditure, or cutting back on both.”
“It is the lower-income drivers who suffer first and hardest, and that is why the Government should not add further to their misery by increasing both duty and VAT on fuel in the new year.”
Diesel, which is still some way off its all-time high, has risen 3.12p a litre over the past four weeks and now costs an average 126.19p.
A 50-litre tank has risen from £54.93 to £63.10.
Bad Credit Loans 4 You helps out people who fear they have been blacklisted because of past poor credit history which could include CCJ’s and defaults, arrears, late credit card payments or repossession.
Bad Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.
Bad Credit Loans 4 You is also covered by the Financial Ombudsman.
Bad Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.
For help, phone 0800 011 4503 or visit
/holiday-loans-for-people-with-bad-credit.html
~Ends~
/vintage-car-loans.html, /classic-car-loan.html, /classic-car-finance.html
Notes for Editor:
Loans 4 You of London Ltd
Innovation Centre
Monks Brook
PO30 5WB
United Kingdom
Tel: 0800 011 4503
/bad-credit-car-loans.html
Bad Credit Loans 4 You was formed in order to ensure people with bad credit had access to specialist help in securing the bad credit loans they need.
From its UK head office in Monks Brook, Loans 4 You operates across Britain, sourcing bad credit loans for people with bad credit.
Bad Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.
Bad Credit Loans 4 You is also covered by the Financial Ombudsman.
Bad Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.
# # #
Bad Credit Loans 4 You helps people source the personal loan they need.
As a specialist in the UK finance market for those with bad credit history, Bad Credit Loans 4 You routinely provide details of affordable loans for various reasons such as; bad credit computer loans, bad credit auto loans, bad credit wedding loans, dental credit & furniture loans.
Bad Credit Loans 4 You has a senior management team with over 50 years collective experience providing vital knowledge of the bad credit loans sector & helping those with bad credit rating problems.
Our mission is to aid people who have been discriminated against because of their bad credit loans problems. We assess bad credit loans applications on your current budget and ability to repay bad credit loans, not just your bad credit history.
