Petrol hits an all time high of £1.20 next stop £1.50?

10346 Comments | Add Comment | Blog entry posted 8th April, 2010

In July 2008 we saw petrol hit a massive 119.7p. Back then, one British Pound would buy you two US Dollars. Today we expect the average price of one litre of Unleaded to have hit £1.20 (if you round it to two decimal places it’s actually already happened but to be precise it was 119.96p yesterday) and today’s figures will be available tomorrow around 12pm.

During the financial crisis the UK has fared a lot worse with our currency weakening so much that today you can only get one and a half US dollars for every pound.

This more than any other factor has caused higher pump prices over the past few years. We have seen fuel duty rises too but the impact of the exchange rate has been the single largest cause of rising pump prices lately.

The second biggest culprit is oil prices and things are looking set to get worse with them starting to rise again and with Brent Crude at around $86 a barrel an 18 month high.

Because the exchange rate is so important, the biggest threat to the price we pay at the pumps in the short term is actually what the financial markets make of the election. If they are worried about a hung parliament or the plans to reduce the deficit then the UK could have its credit rating downgraded.

Were this to happen and the UK to lose its coveted AAA credit rating, then the money we are borrowing as a country will be seen as higher risk and the value of the pound in our pockets could plummet to new lows.

With the price of oil on the rise as well we could even see the prices at the pumps hitting a massive £1.50 this summer!

So we wanted to ask our members how is this affecting your lives? Does it feel worse now compared to July 2008? Are you driving less? Are you getting used to higher prices? Have you lost your job because of rising prices? Please tell us your experiences below.

Replies to Petrol hits an all time high of £1.20 next stop £1.50?

T. Bergin February 25, 2013

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During parliamentary question some time ago, it was said by the government that, "They would scrap the extra fuel duty on all fuels at the garages". It seems to me, that they have gone back on their word again. How can we the public keep on putting up with this greed in tax. It seems to me that they will do anything to keep us off the road. Businesses and all people from all walks of life will continue to suffer. Enough is enough,it's about time the whole country came to a standstill and boycotted fuel for one week. This would sort the problem out and make the government realise they cannot keep on asking for more money. It is unfair to everyone to expect us to pay such high prices at the pumps.

Stephan Jones April 27, 2011

report reply to Stephan Jones

This is realy affecting my work as i have to use car for carting tools around and i have tried passing the cost of fuel on but it affects the price that I quote and im now loosing work. so what do i do turn work down and end up on the dole ? so what happend to the fuel stabiliser that was in the last buget since the buget Ive seen fuel prices going up and up. bye about 10 /20 pence I did vote for the new coverment but im now thinking that I did not signup for me not to be able to feed my fammerly

Andrew April 24, 2011

report reply to Andrew

We need to protest on the 5th May outside the POLLING stations for the local elections and the av referendum let the politicians see we are sick of the taxes we have to put up with. If we protest at the polling stations it would get some tv coverage at local and national levels so come on lets get together and arrange this asap !!! Don't forget if we o or say nothing Diesel will be £2.00 a litre by Christmas and Petrolclose behind at £1.90 a litre.

John Axon April 12, 2011

report reply to John Axon

If fuel keeps rising it will hit everyone but mainly the people on low wages and those who earn £30k and below. As Goverments try to justify the banks greed by bailing them out, and cutting jobs the oil producing countries can charge the West whatever it wants.
It's time we looked into alternative fuels and to reduce our dependancy on these countries. I know people will say that those in debt should have been more careful, but when the banks are dangling large loans at competive prices at people they will take it.
These fuel rises are compounding debt to this part of society. Food and raw materials will rise with the continue fuel price increases, and in the near future it will be the rich and lottery millionaires who will be able to drive a car. So how will we get to work as bus and train prices soar?

Anthony Marsh April 5, 2011

report reply to Anthony Marsh

The way the price of petrol is going up, soon the only people able to run a car will be Bankers, Company Directors and High ranking government officials.

Degsie March 6, 2011

report reply to Degsie

I hope it goes up to £3.00 a litre so that the poor are forced off the road - then I can enjoy my motoring more. The roads are all clogged up with cheap cars full of awful people.

    DonLyn March 20, 2012

    report reply to DonLyn

    Everyone has the right to drive. I am a poor person with a cheap car, however I would never post an offensive comment on the Internet. That is what awful people do !

Daz March 3, 2011

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The people of Britain have been beaten down. We are out cold. For some reason the press are not jumping onto the fact that is on everyone’s mind Whenever you go to or go past a petrol stations you think....

...ROBBERY...

They are mentioning it, but not putting the extra effort of going all the way with it. We all know they can, so why not. Probably get slapped with a terrorist charge injunction.

These prices are milking us dry. I have four children, which in my mind, blows public transport out of the scenario for travel.
For some reason the newspapers don't seem to be getting everyone worked up about what all adult members of the driving public think.

...WHO CAN I SHOUT AT IN THIS COUNTRY.....

..(that seems to be run by a bunch of greedy little children).... which will actually do any good. WHO. In this day and age who would have thought it possible. Britain used to lead the world in politics, trade, influence.... now we are like a rotten apple being eaten from within.

The old line ....well, if you knew the half of it..... if we did, we could probably get the lot of them sacked or in prison.


Please....someone in this country just figure it out and make the difference...
Long live GREAT Britain & HMtQ..

Miles Brown March 2, 2011

report reply to Miles Brown

sterling hit a year high against the dollar today, but this has had no effect, petrol prices are still rising at the pumps.

John Mcgregor February 8, 2011

report reply to John Mcgregor

FUEL PROTESTS we must start the blockades immediately the motorist must make a stand lets get organized QUICKLY.

Jim February 6, 2011

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After reading some comments on here it would seem that Tory voters (middle class and upward people) blame the economy on the poor people by telling them to give back their benefits and get a job, FFS you fools listened to ALL THEIR LIES and fell for them hook line and sinker, you thought here we go the Tories will as usual punish the poor and us middle class will be better off ! HA-HA-HA now you know how it feels to be victimised by the Tories !
As for fuel prices, the above poster has got it in a nutshell
"ACTIONS SPEAK LOUDER THAN WORDS ! CALL FOR THE PEOPLE TO PROTEST NOW !!!"

Jim

Jaima February 6, 2011

report reply to Jaima

Its time to get off our arses and protest on the roads, block the depots etc.
The economy is not to blame for the price rises ! the "wealthy" government mps and their supporters are to blame !
ACTIONS SPEAK LOUDER THAN WORDS ! All is fine and dandy putting your thoughts on the net, it get us all nowhere ! CALL FOR THE PEOPLE TO PROTEST NOW !!! or very soon most people will not be able to afford to drive a vehicle, that includes all hauliers

Jaima

Graham January 28, 2011

report reply to Graham

At the end of the day Dave, these sh1ty politicians are on good salaries so don't give a cr@p what the average person thinks or has to cope with.

I for one have lost hope in UK democracy, it needs to be fairer taxing the highest paid more and laying off average folk struggling to simply get by.

It just isn’t cricket to put tax on top of tax, and continue to put it up.

I know it's all a balancing act but the way fuel is going it is no wonder that the cost of living is going up, everything depends on fuel.

Something needs to be done, block the roads, and block the depots, anything for a bit of fairness...

Vic January 23, 2011

report reply to Vic

10374 Steve

My God, your head is so far your ar$e you must have to open your mouth to see where you're going! Party political bias or what! So everything was great under Labour and they were doing a great job were they?

I was in Stoke-on-Trent last week - the traffic was unbelievable - cars and queues everywhere! Not much sign of people being "priced off the roads" in that "deprived area", or are you telling me the drivers were all Tory millionaires?!

Do me a favour - give back the £40 the rest of have given you and do some work - there's plenty out there for those that want it.

Dave Forbes January 23, 2011

report reply to Dave Forbes

There is no point in rushing about now , I now sit at lorry speeds (56mph) on motorways in my 1.4 diesel , it really is amazing how you can get further without great speed. The difference between 56mph and 80mph on the 'fuel needle' is truelly amazing and , if we all had more patience , we could all travel further , but this is simply NOT going to happen. The tax-take on petrol and diesel is disgusting , £1.32 per litre (23/01/11) and 80p tax and VAT. Why do I not believe the Tories when they say "We're all in it together" , aye , we're all in the doo-doo together.

Steve Jones January 20, 2011

report reply to Steve Jones

I see that the fair fuel stabiliser is still being shyed away from by this ignorant Tory Government, whose Transport Secretary is a millionaire and can obviously afford high fuel prices. He may make a concession for rural drivers and possibly one for hauliers - thats not really "We're all in this together" is it? more "Tough but UNfair" on the average Joe Public who still has to pay top dollar - when more and more jobs seem to be only offering £5.93 an hour.
My poor old Rover 45 is now a nice ornament parked outside my house as my monthly allowance of £40 from my Jobseekers Allowance for fuel doesnt exactly buy me very much fuel any more. So much for commuting to find work, when a 30 mile drive to a job paying the minimum wage will take 2 hours work to pay for. Living in a deprived area (Stoke on Trent) with high unemployment, £1.25 a litre and stupidly high public transport fares is not really much incentive to travel to get a job is it? Lunacy. Nice one you Tories! You really wont be happy till the Poor (Labour Voters BTW) are priced off the roads and out of work.

Kevin Wickens January 14, 2011

report reply to Kevin Wickens

interesting ive just found this website! first hundred pages alll the same dates then a few then very little.hhmm sounds like the british public in action!

Tom January 4, 2011

report reply to Tom

The government are scam artists and we are fools thinking we cannot do anything about it. Everyone thinks they cannot do anything and no one will listen therefore we become nothing.

This will only stop once the people in this country get there fingers out and come to a point of realisation which is:
1). The political show running in the UK is a show.
2). We can do something if we come together as a country
3). Within this show we are the puppets
4). Each year we will be introduced to more and more until we finally say no!
5). The more we accept the more we will get
6). The more fear they build in us the more advantage they can take.
7). The people in this country can become more powerful and have more of a say, if they stop saying what can we do anyway?

Martin Channell January 3, 2011

report reply to Martin Channell

I think its time for another fuel protest, but seems the british public has lost its bottle. I for one would Picket outside fuel stations and think the british public should stand together and fight the government in the only way we can, fuel blockades and picket lines .

Steve Hensman January 1, 2011

report reply to Steve Hensman

how to stop this petrol going up just think a bout it bring this cuntrey to a stand sill by not going to work not paying the bils for a month i say do it get the petrol downit will work

Bruce Mcarthur December 31, 2010

report reply to Bruce Mcarthur

how come that when the petrol hit this price last year the entire country went nuts!now everybody seems to roll over.
the poor get poorer and the rich don't give a damn(that means the current government)

Trevor Wright December 29, 2010

report reply to Trevor Wright

With petrol prices already rising every day isn't time we have some more protests. I live in a rural area and a lot of people I know who earn only just above the minimum wage already find it difficult to afford petrol to travel to work, soon it will be impossible for them run a car.
This government is totally out of touch with the real world here in the countryside.

Kenny December 28, 2010

report reply to Kenny

Here's a novel idea to make money for G.B Ltd:

*1. At every port of entry, make ALL foreign vehicles purchase a Tax Disc to use Britain's roads. Each Tax Disc to = 1/12 the annual rate of duty for whichever tax band it falls into + 10% administration charge, minimum validity 1 month non-transferable and no refunds. Driver to declare the length of intended stay.
If this would prove too time consuming introduce "Toll Lanes" for foreign registered vehicles to leave/enter port.
Our Tax Disc doesn't exempt us from toll road charges on the continent.

*2. Introduce a "Mobile Phone Top up" tax, say 20% with those on contract paying the tax on top of their monthly charges.
There are more mobile phones in the U.K than motor vehicles, and we don't rely on mobile phones to get us to work or to deliver goods to our shops and businesses.

Two golden opportunities being missed here, and if they were taken on board then maybe fuel duty could be cut quite a bit.

John Shannon December 25, 2010

report reply to John Shannon

Why is fuel so expensive in the UK. Its twice the price of fuel in Australia and the US. The UK produces its own oil too - so it should be cheaper than in Australia which is predominantly on importer.

Makes no sense - someone is making a killing out of fuel taxes.

Time to get rid of the cars in protest.

Push for employers to provide buses to / from work for its employees, or to move company offices to where it employees live - wouldn't that be cool.

Degsy December 24, 2010

report reply to Degsy

I can afford more expensive petrol & o drive a big gas guzzler car. I enjoy splashing poor people as the queue up in the gutter to buy their lottery tickets and cigarettes. I look down on them from the comfort of my heated leather seats. I hope petrol goes up by even more and that this prices poor folk off the road - this would decrease congestion and allow me to go about my business without having to slow down behind cheap little cars.

Mitchell December 24, 2010

report reply to Mitchell

Roy , you obviously have no idea of what drives the pricing of Diesels/Petrols.

Go back into your cave with you copy of "the Sun"

John December 21, 2010

report reply to John

10362 - Roy,

I think that you will find that when oil hit 140 / barrel in 2008, u/l went up to around 120ppl on ave and diesel around 132. However, since then there has been several duty increases. Unless there is a change in duty (downwards), even if the oil price dropped, the value of the pound vs dollar went up and world demand fell away. I doubt that we will see prices as 'low' as around the £1 pl ever again. Don't forget, as recently as Mar 09, u/l was 88.9!!!

Roy Setchell December 19, 2010

report reply to Roy Setchell

In 2007/8 when crude oil got to about $140 a barrel, the petrol price was about 103.9p a litre. As we know, there is a finite number of litres of petrol you can get out of a barrel of oil, so with crude oil NOW at $88 a barrel, why is petrol costing us 120p per litre? Presumably absolutely nothing whatsoever to do with profiteering!!!

Jim Cutler December 11, 2010

report reply to Jim Cutler

where have all the protesters gone, petrol at £1-25 and no protests, have you all been brought off ?. come on this is going to far, time to act is now.

Alan Povey December 9, 2010

report reply to Alan Povey

I am disabled and without my car I can not get about, I need to attend the Hospital on a regular basis and the increase in fuel is taking a big chunk every week, from what I need to live on.

John Busbridge December 8, 2010

report reply to John Busbridge

Lets face it all politicians are pigs in the trough scum, they care not about you and me in fact I have come to the conclusion they just see us as a way to line their own pockets, it is about time we stood up for ourselves in this country instead of moaning like I am now and did something about all the injustice.
I would like to see any one of them try to live on a pensioners income and this new round of petrol increases will effectively stop me from driving.

Pete Graham December 8, 2010

report reply to Pete Graham

Just filled the car this morning - £1.209 per litre. £1.21?? I thought the country ground to a halt the last time this happened? Nah, we just roll over and take it then grumble to ourselves about having to pay it.

Time for action folks. In theory there's another one due on or around Christmas (ho ho ho?) and then again in Jan when VAT goes up? I can barely afford to get to work, never mind affording all these additional increases.

Stuart Seeley December 5, 2010

report reply to Stuart Seeley

If the students can smash London apart for the increase in their tuition fees, shall we as motorists protest on the streets and smash up a few things? Will the government lower the tax on fuel?

Sandra Rutter November 29, 2010

report reply to Sandra Rutter

Have just seen diesel at £1.27.9 on the Fosse Way in Oxfordshire!!!! Why aren't people out on the streets and up in arms about this. I will have to leave my car at home soon because this is getting ridiculous!

Jim Haggarty November 22, 2010

report reply to Jim Haggarty

It never fails to amaze me that the tv news and other advertising media keep stating the average price of petrol is 1.20.They never seem to realise that in the north of scotland we have be paying well over that for years now. At the present time its 1.26.9 but in the past it has been up to 1.30, a price you may expect to pay on a motorway but not in a small rural garage in the local village where there is no public transport so everyone needs a car.Unlike some of the other people who have left comments, I'm not yet quite old enough to get my bus pass and when I am it will be as much use to me a an inflatable dartboard as there are no buses except a school bus which stops to pick up children.

Paul Edwards November 21, 2010

report reply to Paul Edwards

single /registered back prob/still work/public transport a joke/cant afford so need car /fuel prices a joke/ turned off heating so i can eat and put fuel in the car to earn it in the first place /is this dam country trying to do away with me and many others contry a joke /gov a joke /extorting every last drop from all us normal people come live in a normal world mr c and co

Mitchapaedia November 11, 2010

report reply to Mitchapaedia

John

I work in the fuel industry

Prices at the forecourt are very simple.

On any given day the price of fuel will be based on the “Platts” price. This is a base price of the fuel traded on the commodities and futures markets around the world.

Various things affect this , seasons, general economic demand and supply, currency rates etc etc.

If on any given day the Platts price is 98ppl including UK duty , then there will also be around a 4ppl handling and delivery fee on this to the forecourt. Then factor in a small retail margin of 1.7ppl and then you are at 103.5 ppl before VAT which is 121.9 ppl at the pump.

Remember the individual forecourts will rarely move their ppl retail margins , so any sudden increases are usually down to the change in the wholesale price of the product on the day that the fuel was bought by the particular filling station.

Prices are particularly high at the moment because , the £ is at a poor exchange rate to the $ and fuel is a $ commodity. Global economic data is much better than the crash in 2008 and so global demand for oil is much better along with a much stronger forecast for growth , encouraging investors to buy oil further pushing up the price. We are coming up to winter and demand for heating oil is pushing up the price of crude.

“Greedy” Oil companies is a myth , it is the hedge funds , investment banks and traders that create these peaks and troughs in pricing however in the current climate fuel prices can easily hit £1.40 before March 2011.

David Chapman November 1, 2010

report reply to David Chapman

The price of petrol and diesel is going up every week and will go up 5p a litre in January. That's 9 weeks time. Go to http://www.votewithyourwheels.co.uk/ to find a proper plan to fight back.
Either give up and give them your wallet - or learn how to fight back with it.

Pete October 6, 2010

report reply to Pete

Hydrogen powered vehicles for the win!

Come on Honda, we need to ditch these oil companies ASAP!!!

RENEWABLE ENERGY VEHICLES REQUIRED!

Austerity Budget October 5, 2010

report reply to Austerity Budget



Start preparing for a life of austerity. NOW!

Find local employment. Reduce your debts. Reduce your fuel consumption. Grow your own vegetables or buy from local suppliers. Exercise regularly. Insulate your home. Help your family, friends and colleagues to understand the implications of Peak Oil and what lies ahead for us all.

No more growth.

No more business-as-usual.

From now on Cameron's plans for a 'Big Society' will ensure that you are on your own.

Got the message? Then ffs do something about it! Right?

Arthur October 5, 2010

report reply to Arthur

#10348

John
I use this site to check prices locally to me - not all the time as the ones that are cheapest are fairly consistent in that regard. I also look at the blog now and again.

If you want to know why that petrol station went up why don't you ask the staff? I notice that stations sometimes go up more than 1ppl at a time - maybe product costs have risen rapidly and they have been holding back increases? maybe they had a promotion on? Whatever the reason, my point is that an extra £1.50 for 500 miles driving doesn't seem a reason to start hammering the !!! key.

John October 5, 2010

report reply to John

#10347

Arthur,

Your point is irrelevant to me. I want to know why the price went up 3ppl in one day for no apparent reason. I would imagine that other price conscious motorists who use this site would like to know what is fuelling (pardon the pun) the recent pump price rises.

Fyi, There is another filling station at Marksbury where for much of the time over the past few weeks, the price has been 6ppl more expensive than other filling stations 5 miles or so along the road and yet there were/are plenty of motorists (based on my observation when passing) willing to use this station to fill up. I assume that they may have a similar attitude to pricing as you do Arthur.

Can you explain why you log on to this site?

Arthur October 5, 2010

report reply to Arthur

#10345

John: The price went up by 3ppl. So, if you put in 50 litres, the 500 miles of driving you get (assuming around 45mpg) will cost you an extra £1.50. Is that really such a great problem?

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