News 16 October 2021

Petrol prices rise to highest rate in nearly a decade

16 October 2021
petrol station

The price of petrol has increased dramatically to around 140.22p or £1.40 per litre, the highest price seen in over 9 years.

According to the RAC, the current price is only 2 pence off the highest price of petrol over recorded.

Prices have increased by 26p in just a year and the increases come as the price of a barrel of oil has doubled over the last year, causing a knock-on effect for businesses that rely on the essential fuel. The jump equates to around 22 per cent.

Simon Williams, a RAC spokesman said, “Our data shows we haven’t seen the petrol price at this sort of level since September 2012, and we’re now worryingly close to the all-time average UK price high of 142.48p that was hit in the same year.

“At a time when households and businesses are facing spiralling prices in other areas, this is a huge concern.

“We call on the Government to take action and do whatever it can to help ease the burden on drivers.”

The price rise comes after petrol stations dominated news coverage as people panic bought fuel as news outlets reported that the lack of delivery drivers could impact availability.

(Image Credit: Image Money – Flickr)