Petrol prices reaching for record high in UK

Central Asia News.Net
Tuesday 16th March, 2010

The AA in Britain has warned of higher petrol prices this year.

The motoring organisation has suggested prices could hit £1.20 a litre over the next few weeks, with increases in the wholesale price of petrol helping to dent driver’s wallets.

The AA said the government had been made aware of the forecast and had been asked to postpone the introduction of a planned 3 pence rise in petrol duty, due to come in on 1st April.

Even though the price of oil largely determines petrol prices, the current oil price of about $80 a barrel is far below the $147 a barrel-high seen in the summer of 2008.

The average petrol price in the UK is currently just over £1.15 a litre.

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