Petrol prices have never been higher in the UK. After a full week of daily increases to the record retail pump price, the RAC and Experian Catalist reported that as of Sunday, the cost of a litre had hit an unprecedented 167 pence. Diesel was also at an all-time high of 179 pence.
The Chancellor is reportedly considering a cut to fuel duty to ease the burden on the consumer during this price crisis - being fueled by the war in Ukraine. Speaking to the Independent, Simon Williams from the RAC said "the window for pump prices to come down appears to have been well and truly closed", adding: "While there has been talk of a 5p cut in fuel duty, this may not be deep enough to make a real difference to drivers who are facing the highest ever costs to fill their tanks".
Prices have stabilised at the beginning of this week, but Gordon Balmer from the Petrol Retailers Association warns that, while extremely hard to predict, the cost could yet hit the 200 pence mark.
