RAC warning as price of disel hits another high - but more pain to come they warn

By Susie Watkins

16th May 2022 | Local News

Prices in Westfield May 14 already high
Prices in Westfield May 14 already high

This was the price Midsomer Norton Nub News saw at the pumps in Westfield on May 14... but there is today a warning that worse is to come.

The motoring organisation the RAC announced today that diesel prices have reached a record high price across the UK of 180.29p a litre.

The previous high of 179.90p was recorded on March 23rd 2022 – that was the day of the Spring statement from the Chancellor Rishi Sunk who announced a 5p a litre cut on the average price of fuel .

The RAC says that across the UK the price per litre of unleaded is also rising and is fast approaching the record levels of 167.3p per litre set on March 22nd.

RAC fuel spokesperson Simon Williams said: "Sadly, despite the Chancellor's 5p a litre duty cut the average price of a litre of diesel has hit a new record high at 180.29p. Efforts to move away from importing Russian diesel have led to a tightening of supply and pushed up the price retailers pay for diesel. While the wholesale price has eased in the last few days this is likely to be temporary, especially if the EU agrees to ban imports of Russian oil.

"Unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps. Had Mr Sunak reduced VAT to 15% as we call on him to do instead of cutting duty by 5p, drivers of diesel vehicles would be around 2p a litre better off, or £1 for every full tank. As it is, drivers are still paying 27p VAT on petrol and 29p on diesel, which is just the same as before the Spring Statement.

"The average price of petrol is also on the rise having gone up nearly 3p a litre since the start of the month to 166.65p which means it's less than a penny away from the all-time high of 167.30p set on 22 March."

     

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