Petrol prices set to soar by Easter

Petrol prices on the rise

Petrol prices on the rise

Petrol retailers have predicted that the cost of filling your car up, could rise to £70 by Easter this year.

Planned tax rises mean that a litre of unleaded will be £1.36, with diesel rising to £1.40.

Chancellor George Osborne has been urged not to go forward with the 5p rise in fuel duty that he has planned in the April budget. This, along with the rising cost of oil means that we could see a total rise of 8p per litre at the pumps.

Brian Madderson, chairman of the Retail Motor Industry Federation’s petrol division (RMI) said “Our unequivocal recommendation is that the Government now abandon the fuel duty `escalator’ principle as this is a legacy of your predecessors”.

Campaigners against the fuel rise have called for action from ministers, claiming that people will be unable to travel to work if fuel prices go up, and therefore many businesses will suffer.

Many motorists are already finding it tough to manage with the fuel prices as they are now.

The Government is now under a large amount of pressure to introduce their fair fuel stabiliser policy, which lowers the price of fuel when oil prices rise and then raise them when it stabilises. However, this policy was shelved when the coalition came into government.

A spokesman for the Treasury has said “In order to address the country’s record budget deficit, it is necessary to implement the fuel duty increases already set and legislated for”. Also adding, that “the burden of deficit reduction will have to be shared.”

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