28th May 2009
(Aldershot, UK) The average price of unleaded petrol looks set to hit £1 a litre tomorrow (29.05.09) for the first time since October 2008, according to figures from PetrolPrices.com.
Unleaded has shot up 15.6% since the beginning of the year, when unleaded was 86.1 pence per litre. Unleaded is currently 99.8 pence per litre. The increase adds around £7.50 to the average 55 litre tank.
2014 stations out of 7032 (29%) are already selling unleaded at £1 per litre or above, a figure which is likely to rise as the increase in oil prices takes full effect at the pumps. (Please get in touch to find out how many stations are selling above £1 a litre in a particular area)
Rising oil prices and an increase in fuel tax have contributed to the increases at the pumps. Oil hit $39 a barrel in December 2008, its lowest point since late 2004. It’s now trading at around $60 a barrel. Fuel duty was increased by around 2 pence per litre on April 1 2009.
The average price of unleaded rocketed to 119.9 pence per litre in July 2008 as oil reached record highs of $147. Falling oil prices and price wars between petrol retailers both contributed to pump prices falling back.
Louise Doherty, spokesperson for PetrolPrices.com said: “The average price of both unleaded and diesel has been creeping up as oil prices have started to rise again, but there are still a large number of stations selling unleaded below £1 a litre. By shopping around online to find the cheapest fuel drivers can help increase the competition between retailers and therefore keep prices as low as possible.”
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Written by petrolprices