Petrol prices ramp up again

12th September 2012

The average British pump price climbed to 139.71 pence per litre (ppl) last weekend, leaving the cost just 3p short of April 2012's record.

Both petrol and diesel dived to 130.81ppl and 136.12ppl respectively on July 1st 2012, but since then a two-car family has seen its monthly petrol spend spike by £18.90, according to the AA.

"Once again UK drivers find themselves being dragged over a barrel, as does business and Bank of England inflation targets," said Edmund King, president of the AA.

European petrol refining margins rose to their highest level in five years last week, with Hurricane Isaac, upcoming refinery maintenance work and refinery fires in North and South America blamed.

Mr King added that action was needed from government to stem the rise of fuel prices, pointing out that former Transport Secretary Justine Greening's initiative to introduce a wholesale price track and make prices more transparent had stalled.

MPs will debate the price of petrol and diesel on Thursday and how fuel cost rises are affecting rural drivers on Wednesday.

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