The petrol prices soar and seems we an do precious little about it. In some areas it seems households pay more for commuting than on mortgages – a sorry state of affairs if ever there was one.
Yesterday, petrol hit £6 a gallon – which is not a barrel of laughs. In some areas, people pay even more. As interest rates remain rock bottom, this means there are people who spend more on filling up the car than on their mortgage repayments. The AA has warned that people on low incomes can ill afford driving, especially in areas where transport links are poor.
Prime Minister David Cameron has called the rising cost of petrol ‘incredibly painful for families and business’ and said that he hopes that ‘during the budget we will be able to do more.’
His comments have fed speculation that the government plans to scrap the 1p rise in fuel duty that was set to kick in this April.