It’s the gloomy forecast motorists have been dreading – the cost of petrol is once more on the rise making the cost of filling up an average family saloon car £70 by Easter.
Only 12 months ago the cost of filling up an equivalent vehicle would be £56 – a rise of around 25%.
The sharp rise is down to the rise oil prices and the Government’s ’stealth tax’ on fuel. Increasing global demand for oil means that the $100 a barrel threshold is 'imminent', according to some experts.
And the ’escalator’ rise in fuel duty contained in Chancellor George Osborne’s budget will see up to 5p a litre added to the cost of fuel. Together with the rising oil prices, this could create a double-whammy effect and rises of up to 8p a litre.
AA spokesman Luke Bosdet said: 'Motorists are punch-drunk with these relentless price rises. They are driven by greedy speculators playing the markets and pushing up the price of oil, and therefore petrol and diesel. The pips are squeaking.'