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

10345 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?

John October 4, 2010

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Driving to work this morning through outskirts of Bristol (Longwell Green) at around 0645hrs, Shell garage price was 114.9 and 117.0 for 95 and derv. passed it again at around 1640hrs this eving and the price had changed to 117.9 and 120.9!!! What is going on?

Thomas September 27, 2010

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27/09/2010

Energy Secretary Chris Huhne has supported plans for an extra £22 billion in green taxes, which could see petrol prices soar and the well-off penalised for driving ‘gas guzzling’ cars.

Speaking at a party conference last week, the Liberal Democrat minister backed measures to increase revenue generated by green taxes from 7.7 per cent to 10 per cent over five years.

He said: “Green taxes make so much sense in the current financial climate. Furthermore, all the evidence is that the green tax switch is popular as long as people can see the extra revenue being used to cut other taxes."

While the Liberal Democrats have yet to explain how they would raise these extra funds, the Daily Mail speculated that most of the extra revenue would come from hikes in fuel duty and said that Lib Dems have previously supported plans to raise vehicle excise duty on ‘gas guzzlers’ to £2,000 a year.

John September 27, 2010

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Oil price relatively stable for the last couple of weeks at mid to high 70s, pound vs dollar exchange if anything up in favour of the pound and yet fuel prices rising again. Any idea what the excuse is this time?

Andy September 17, 2010

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Had an interesting discussion with a tanker driver today. He said his firm were selling out to a competitor as there was no profit in delivering fuel.

For every 10,000 litres they delivered they were making £1.00 profit so you see the money is made by the government and the oil companies that extract oil from the ground. There is very little profit at the retail end.

Shirl: Sorry to hear you lost your job, but that is the way the future is going. If you dont like high fuel prices the only answer is not to buy it. Petrol/diesel has been under priced for years. If you imagine that it would take the equivalent of 3000 man/hours to pull a 2 ton vehicle 25miles then you will realise the value in fuel. Price and value have very little correlation in the current system. However that will change.

Remember the government is not going to be able to help you, you are on your own.

Nick September 16, 2010

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hello andy just to say that NOBODY WILL DO ANYTHING PEOPLE THEY JUST SAY "WELL GET USE TO IT"
beacuse its culture here so in the view of that no nobody wiil do anything.
however if any body wants really to do something i thing it will be after the vat go up when all it will start to sting.
And dont forget that BOE still got interest rate to 0.5%. if they shift it to 2% in one go then black snake that eat us.

Shirl September 16, 2010

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Hi,
just like everyone im disgusted petrol goes up and up. Im in a rural town no public transport at all, we use to have one bus on wednesdays they even stopped that! Recently made redundant to so of course im looking for and applying for jobs 5k a year less than my previous job just to get a job as not many about or as i found loads apply, and to places alot further away so longer driving. So thats my rant for today they dont help people on low incomes or low wages by putting prices up and up. Shirl.

Andy September 12, 2010

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Looks like the 1.20p will be broken again in Jan as the tax and VAT rise add about another 5p to the cost of petrol.

Of course thats assuming we dont have another mega collapse in the economy before then. Which i certainly wouldnt bet against, the question is will they allow a collapse or will they roll the printing presses once again. We be interesting to see what the policy is and the excuses they willl come out with. Will it be more "no one saw this coming" and "no one expected a double dip"

Any bets on how long before people are on the streets?

Marktime September 8, 2010

report reply to Marktime

Lets go back and read the opening post for this thread.
It's now September and the threat of 150p / l for the summer has not materialised if fact since I can see local price of 115.9p (regional variations may exist) we are now paying less than the headline rate of 119.7p of July 08. Was someone trying to stir up unrest?

Individals cannot control the price of fuel, its an internationaly traded commodity the price is dictated by natural and political forces we cannot influence (you can berate you MP about the tax component but you wont get far).
Best option use less, drive less, drive for ecconomy.



Chalky September 6, 2010

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Re 10253

Perhaps Brendan has finally realised the implications of Peak Oil, s*at himself and gone off to set up a doomstead.

Chucky September 6, 2010

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Come on Brendan, prices are rising, vat to 20% and still no new blog story since the Con Dems have come to power. Hope your not just another ConDem sympathiser.

Richkid August 28, 2010

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10251
Why are petrol prices in the Worcester area so much higher (Approx' 4p per litre) than anywhere else?


Because you're worth it!

Les Gardner August 26, 2010

report reply to Les Gardner

Why are petrol prices in the Worcester area so much higher (Approx' 4p per litre) than anywhere else?

Grant August 25, 2010

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diesel in towcester is is 119. 9 to 120.9 per litre just getting ripped off in small town 8 miles from miton keynes 6 to 7 pence cheaper joke what charge in Towcester Northamptonshire

Mik August 24, 2010

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this is all bull, cost cost cost, no it doesn't, making money thats all it is

u need u pay!!!! thats what every MP wants u to do, be it national health, petrol or food.

The controllers ppl (banks + government) want you all to be in debt, when u r in debt u WILL comply, fear of losing your house, your job, your savings your liberty well its all to late do a google on the Lisbon Treaty and see where we are.

these ppl will infect themselve pi%% on themselves and still don't give a sht about u or yours.
Stop complaining and DO SOMETHING ABOUT IT!!!!!!!!!

High levels of taxation, bull
Depletion of the pound, bull
increase in fuel duty, bull
the list is endless,

The countries deficet can be written off today, not tomorrow, today with the largest shareholder of the BANK OF ENGLAND saying clear the deficet and allow my ppl to be free, HRH. Dosen't take a lot of working out who that is!!!

but typing away here solves little to nothing, lambs to the slaughter

Basil August 18, 2010

report reply to Basil

10245 Chucky
"still no new blog story" What, so the same old loons like 10246 Eddie Ellis come out of the woodwork and start drivelling again?

10246 Eddie
You are being wilfully dense aren't you? How many times does this garbage have to be debunked?

1) Why would BP give a to$$? No refineries in the UK, the vast majority of BP branded petrol stations not owned or run by BP.
2) The vast number of company car and commercial users - couldn't give a hoot.
3) I don't see the roads being much emptier. Despite all the hot air (from a very small minority of drivers) on this forum, it would appear that most drivers can afford current prices.
4) Nearly every time this "boycott" nonsense is raised the proponent expects someone else to organise it! The few simpletons who do get involved (believing an oil company could drop its prices by 20p per litre!) just get ignored by the sane majority.
5) This whole ridiculous notion came from a chain email about 10 years ago - hard to belive there are still numpties recycling it!

Eddie Ellis August 18, 2010

report reply to Eddie Ellis

As I have said on many forums, the answer is simple. Pick on a big gun for example BP

Boycott that one company for months on end, I usually look for cheapest fuel regardless of who is selling it as I think most people do.

Can you imagine if no one went on a BP forecourt for fuel, sweets, flowers, newspapers etc, only maybe to use a free air line to wind them up!

After several months of such pressure they would have to go to the Government, this is the only way to force change, the man in the street will not get listened too.

I was part of the original fuel protests, they worked to a degree but only served to anyone people going about their daily lives.

This is the way forward, we just need someone with money to back ad campaign, so much we can do through the web to set this in motion.

Up the revoultion!

Chucky August 10, 2010

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Come on brendan, prices are rising, vat to 20% and still no new blog story. Hope your not just another ConDem sympathiser.

Paul Margiotta August 10, 2010

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Obviously being a driving instructor I have a larger fuel bill at the end of the month which just seems to get bigger. I am disgusted that we have to pay so much tax on fuel due to the incompetence of the people in charge of this country and who have allowed such a massive deficit to build up, rather than concentrating on other ways of clawing some cash back the motorists are always hit the hardest. I really hope the MP's appreciate now how much they are spending on petrol now there generous expenses have now been stopped. Welcome to the real world!

David Pyper August 8, 2010

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YES THE PRICE OF UNLEADED ESPECIALLY IN MY AREA OF LUTON AT A PARTICULAR BP "BIG PROFITS" STATION GO UP AND DOWN MORE THAN A HORES KNICKERS DOWN AT WEEKENDS UP WEEKDAYS VARYING FROM 1.14 TO 1.20 PER LIT OVER THE LAST MONTH. RIP OFF OVER THE INCREASING TAX ON THE GOLDEN FLUID

Chalky July 28, 2010

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Re 10241

I stand corrected.

I am also absolutely flabbergasted at the incredibly narrow view taken by the vast majority of posters on this forum. Do they not realise what an amazing roller coaster of a ride we have had thanks to oil, but it has to end, and this is the the beginning of the end. Best re- adjust the mindset or some real disappointments coming.

Bandidoz July 27, 2010

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10239. The phrase is actually......

'My Grandfather rode a camel, I drive a Rolls Royce, my son flies a plane, my Grandson will ride a camel''.

Peaky July 26, 2010

report reply to Peaky

Ya allllllllllllllllllllllll goin' ta hell in a handcart. :-)

Chalky July 14, 2010

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''10238I have just returned from Iran/Persia. Petrol is 10p a litre, diesel and CNG are 6p a litre. At night everything is spectacularly lit up in all shades of colour. There are huge elevated roads, no traffic lights to speak of, and escalators over busy roads in Tehran for pedestrians. Where did we go wrong?

Posted by William Fotherington-thomas, 13th July 2010 10:32pm''

Hmm let me see now.

There is the Saudi saying 'My Grandfather rode a camel, I drive a Rolls Royce, my Grandson will ride a camel''.

It's temporary, don't get over excited by the flamboyant glamour of it all.

William Fotherington-thomas July 13, 2010

report reply to William Fotherington-thomas

I have just returned from Iran/Persia. Petrol is 10p a litre, diesel and CNG are 6p a litre. At night everything is spectacularly lit up in all shades of colour. There are huge elevated roads, no traffic lights to speak of, and escalators over busy roads in Tehran for pedestrians. Where did we go wrong?

Janet Wilson July 13, 2010

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I am so sick and tired at ripped off for petrol!!!!! I live in Dover Kent and last week i went to my mums in gravesend, the shell petrol garage at lion garage was charging 112 per litre when in dover it was still as high as 119.9!!!!!! why is it sooooooooo expensive down here!!!!!!!!

Danny Joyce July 5, 2010

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Everyone needs to boycot driving; overload the public transport system and then we can bring this or any other government to its knees aswell as the fat cats who overcharge for the commodity of oil/fuel.

Stephen Groves July 5, 2010

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I see a few comments re public transport. I used to commute by train and bus, but thanks to a windfall I've invested into an efficient Peugeot 308 diesel. It's saving £1000 a year compared to the train and bus (with annual season tickets), and it saves me time to drive.

Where's the sense in that?

Cevery July 1, 2010

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When petrol hit 120p in 2008 oil was around $140, now oil is around $75 and petrol is 120p. I know GBP is down by about 20cents against the dollar but that doesn't balance out the differences. With a big refinery being shut in NE England and another in Dunkerque I wonder if oil companies are choking off supply to enhance profits, the govt. wont complain because tax revenue is maximised and they get their CO2 reduction too

Darren Catlow July 1, 2010

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10232 Gary,

Public transport is usless! you have a good idea, but I for one cannot use public transport as I work shifts - & there are no busses/trains running at the times to suit me. I think you'll find that wost people love their cars for a convienience factor..

Reading some of these posts, most people are quwstioning the price of fuel at the pump compared to the price of crude oil. My queston is why does Diesel cost more than petrol? - from what I can remember at school, when you distill/refine crude oil diesel is one of the first fuels to be prduced - therefore making it cheaper to produce! - It can't be a "supply & demand" situation as there is just as many diesel as petrol vehicles on the road.

Gary Wilson July 1, 2010

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I think the prices are getting out of hand? I think just for one day the whole of britain should used public transport?

Malc Heeley June 30, 2010

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When oil was at $148 per barrel the pound was buying $2. Now oil is at about half the price and the pound now buys approx $1.50. So it appears we are now paying too much for our diesel/petrol or have I got something wrong ? If our politicians would do something to reduce fuel prices all pricing have goods transported would come down as we all know and we would have more to spend on other comodoties which would surely help the economy/jobs. Is this too simplistic ?

Anthony S June 28, 2010

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I refer to Owen Wells post 10215 and must commend him on the move to two wheels from four for his commute - sadly this is not an option for many - I'm having to change jobs to reduce my travel and take a pay cut in doing so, but for many this is not an option either.
I'm not surprised Owen decided to cycle given the quote "cycling the 22 miles to/from work "saves" "about" £10- £15 every day I do this." I dread to think what the fuel economy and running costs of his vehicle must be - that's gotta be less than 10mpg???

Freeaneasy June 22, 2010

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I was down london this week and couldnt beleve the price of diesal was £1.17 and its £1.20.9 in bedford

Petermayhew June 11, 2010

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Apart from the unfair taxation of fuels by the government there seems to be some profiteering going on with the fuel companies. I have just returned from a trip to Northern Ireland and in Omagh and Coleraine Asda is selling petrol at 113.99p per litre and 116.99p per litre for diesel and locally it's 6 to 7 pence dearer. If they can ship it to Northern Ireland and sell it cheaper than the mainland someone is making excess profits and once again the motorist is suffering.

Chris Dodson June 8, 2010

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On Thursday 3 June I filled up at Morrisons, Ipswich at £1.13 a litre. Back home just 60 miles away the average price is £1.20 - £1.22. Why is there such a huge difference? I live 10 miles outside Cambridge but our local Tesco is always 1p or 2p dearer than their pumps in Cambridge. Tesco and I suppose most other supermarkets call it "Local Pricing" which to me is a neat phrase for 'we'll get away with whatever we can'. When the cost of fuel has such an impact on people particular those of us in the rural communities, isn't it time our Government set a fair price? I expect the Treasury must be delighted with every fuel increase.

Nick Peek June 1, 2010

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Are the petrol companies just taking us for clowns. In Nottingham this weekend, petrol prices were 113.9p per litre at most stations (supermarkets, Shell, Esso, etc). Just get on the motorway it jumped to 126.9p (within 10 miles of Nottingham - so no excuse for extra haulage costs).
Back in South London / Surrey the costs are still at 119.9 or 120.9p at the cheapest stations / supermarkets. I fail to see how transport or location costs can add 6p per litre.
What about adding the extra information to the site showing the cheapest petrol locations in the country as well as the cheapest in your locality. Maybe we can break the petrol company price hikes by buying at the cheapest locations on a journey and shame them into consistent pricing.

Alan Roddis May 30, 2010

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Every time we get a rise in the cost of fuel the government get more in tax, add to that their tax increases on fuel duty they must be laughing their heads off.I'm of to Halfords !

Derek May 29, 2010

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What's all this nonsense about a record petrol price per litre. In the summer of 2008 a garage in Broadway Worcestershire was increasing there petrol price by a penny every day, until it peaked at £1.35 a litre during July of that year. As to be expected I did not get my fuel from there

Derek Abbey May 29, 2010

report reply to Derek Abbey

What's all this nonsense about a record petrol price per litre. In the summer of 2008 a garage in Broadway Worcestershire was increasing there petrol price by a penny every day, until it peaked at £1.35 a litre during July of that year. As to be expected I did not get my fuel from there

Derek Abbey May 29, 2010

report reply to Derek Abbey

What's all this nonsense about a record petrol price per litre. In the summer of 2008 a garage in Broadway Worcestershire was increasing there petrol price by a penny every day, until it peaked at £1.35 a litre during July of that year. As to be expected I did not get my fuel from there

Geoff Arnold May 29, 2010

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Unleaded has dropped from 120 to 113 this week (in Shell garages mainly)
Why this huge 6% drop I wonder?

Gary Orchard May 28, 2010

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i know i have left this a long time and have only just remembered to check the site. i totally agree with paul and his comment on having another fuel protest. i live not too far from grangemouth and would very happily park my car in front of the gates. i think the people of the nation should make a stand on the cost of fuel but as we have voted in a coalition government i can see everything costing a lot more in the next few months.

Philip Bell May 24, 2010

report reply to Philip Bell

Once again, the Shell Station at Flamstead seems to have conned the petrol prices feedback on prices. I have been watching them over quite a long period and what has happened now is typical. They drop their prices to the lowest locally (116.9) on todays listing, but in reality today 118.9 - It seems they drop to attract passing motorists and then go back up a few days later sometimes even higher than this example. They have been yo-yo'ing like this for ages and it seems to fool a lot of people and PetrolPrices.com assist them by this approach.
I think it would be good to blacklist any station that has wide variance over short periods of time in this way.

Nigel Harris May 22, 2010

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So a few people aren't bothered because they have a bus pass and we should all either use public transport or a bike. I'm a community nurse and it took me over an hour to get to a visit that would take at most thirty minutes. I cover a big area and it's not practical to not use my car. I would do less visits and see clients less. The people who suggest using public transport need to think when a community nhs worker visits them and helps them all due to having a car. On the petrol side of things it's the city workers and politicians boosting the price again. It all amounts to one thing...........greed.

Owen Wells May 22, 2010

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Hi there - comments on this subject are always interesting. Unfortunately supply & demand is always the rule and as about 80% of the price of petrol is tax it is the politicians we would need to persuade to bring the price down materially (and tax would go up somewhere else). I decided to start cycling to/from work and shops instead of driving. I am finding that the traffic is getting worse and worse at rush hour. I used a "friends" thrown-out exercise bicycle and worked up to a point that I was "cycling" the equivalent of the distance to work before getting in my car. I then took a deep breath got on the bike I had in the garage and started cycling and leaving my car at home. Cycling the 22 miles to/from work "saves" "about" £10- £15 every day I do this. It is also good exercise. Things are not that simple of course - I still have my car - for long/family journeys (more efficient) - but it is one less car on the road for the commute. I would be happy to share my experiences with anyone. Less driving by us all will definitely bring the price down in the long run..

Ronald Jenkins. May 22, 2010

report reply to Ronald Jenkins.

I see that Tories pledge to at least consult on the "Fair Fuel Duty Stabilizer"
has been completely abandoned. They sing one song to get into power then, once in they change their tune.
NEW TRANSPORT Secretary Philip Hammond declared that the "war on motorists would end". Only time will tell, but next months "emergency budget"
will we see a slight of hand take place where George Osbourne will freeze fuel duty BUT raise V.A.T. to maybe 20% thereby adding 3 pence to a liter of fuel.
We will then know that the so called "war on motorists" is definitely NOT OVER!

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