Fuel Price Update

Petrol starts the year at record high

02 January 2008

Petrol in the UK starts the New Year at a record high price of 103.03 pence per litre, overtaking the previous all-time high of 102.92 set on Boxing Day 2007.

Diesel, at 107.95 pence per litre, remains marginally below its record of 108.00 pence per litre, set on 6 December 2007.

Compared to the start of last year, filling up the typical 50-litre petrol tank costs £7.36 more.

"The closure of superstores during the festive holidays, although many kept their petrol stations open, may account for the new record highs for petrol. However, with oil prices again rising above $95 a barrel, the start of the year shows little sign of relief for UK motorists," says Paul Watters, head of AA Public Affairs.

"We had hoped that petrol and diesel prices had hit a plateau that reflected the price of oil above $90 a barrel. If the two new highs turn out to be blips, it will underline the importance of supermarkets in holding down the price of car fuels."

Latest prices (from yesterday's receipts):

petrol – 103.03 pence per litre,
diesel – 107.95 pence per litre

Previous record for petrol

102.92 pence per litre on Boxing Day 2007

Start of this week:

petrol – 102.80 p/ltr
diesel – 107.84 p/ltr

Start of last year:

petrol – 88.32 p/ltr
diesel – 93.68 p/ltr.

Difference between then and now:

petrol – 14.71 p/ltr
diesel – 14.27 p/ltr

Individually, with a typical 50-litre fuel tank, a petrol refill is costing £7.36 more than this time last year

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02 January 2008