Inflation figures set to rise as petrol breaches 95p today a new 2006 high

21st April 2006

ALDERSHOT, UK (Petrolprices.com) Following warnings this week from PetrolPrices.com, the average unleaded petrol price has now breached the previous 94.99 pence high in 2006. The average UK unleaded price rose a further 0.26 pence yesterday hitting 95.25 pence per litre a new record high for 2006.

The recent rises have followed the price for crude oil which has been rising fast as a result of the situation in Iran and concerns about potential supply problems in Nigeria.

Brendan McLoughlin co-founder of PetrolPrices.com commented "The pace of the recent rises has been quite sharp following crude oil up, these recent rises were not accounted for much in the recent consumer price index which gave a figure of 1.8% inflation last month. With the extremely strong underlying global demand for energy showing no signs of letting up it looks like inflation figures will be set to rise this month and it will be motorists and airlines feeling the pinch." Meanwhile according to accountants Grant Thornton the government is set to benefit from an £8 billion pound windfall from North sea oil revenue alone if crude oil prices keep rising.

This bad news for Britain's motorists only looks set to get worse with PetrolPrices.com predicting a rise to £1 per litre average in the next 6 weeks as the markets drive the price of crude higher. PetrolPrices.com has told motorists not to panic buy.

Notes for Editors

Petrolprices.com is the UK’s only comprehensive and free fuel price website for consumers, where they can find the cheapest petrol stations near any town or postcode of their choice. Prices are updated daily and displayed conveniently using Google Maps technology. Users can also opt to have prices emailed directly to their email box so that they always know the cheapest place to fill up before they leave the house.

Petrolprices.com was launched in November 2005 by Fubra Limited, the same company that launched the largest UK house price website www.ourproperty.co.uk in January of this year.

For more information contact:

Brendan McLoughlin
Managing Director

E:
W: www.PetrolPrices.com
P: 0844 816 0001
F: 0844 816 9999