as Government tax grab adds a record 15p a litre to the price of petrol
Motorists are being warned to brace themselves for a 15p a litre increase in petrol that will push up pump prices to record highs.
It will see the cost of a litre of unleaded soar from 108p to 123p ? or nearly ?5.60 a gallon.
Petrol will rise by 5p a litre by the spring and 10p by the autumn as the cash-strapped Government raises taxes from motorists to pay off its massive debts, said the Petrol Retailers' Association.
Motorists are feeling the pinch again as the cash-strapped Government increases fuel taxes
Among the tax changes planned or predicted are increases in VAT and fuel duty, the ending of the duty incentive to refiners for the production of biofuel, and tax increases in a snap post-election Budget On top of the tax rises, Britain's 33million motorists are also likely to face rises of up to 5p a litre due to increases in market costs.
Taken together that will mean a 15p rise in the cost of a litre of petrol ? equivalent to 68p a gallon.
Diesel will rise from 110p to 125p a litre, said the association.
Unleaded hit a record 119.7p a litre in July 2008 after oil peaked at around $147 a barrel. It is currently trading at around $79 a barrel.
The tight profit margins for retailers would force up to 750 filling stations to close this year ? 50 per cent above the recent rate of about 500 a year ? hitting many rural sites on which country dwellers depend.
Brian Madderson, chairman of the Petrol Retailers' Association, which represents 6,000 of the UK's 9,000 filling stations, said: 'The Government is desperate for cash and motorists are an easy tax target. It will mean motorists paying record levels for their fuel.
'2009 has been a tough year for consumers and we are looking at an even tougher year ahead.'
The AA revealed recently how motorists are facing a postcode lottery of petrol prices ? with drivers living farthest from a price cutting supermarket paying up to 5p a litre more.
Motorists are being warned to brace themselves for a 15p a litre increase in petrol that will push up pump prices to record highs.
It will see the cost of a litre of unleaded soar from 108p to 123p ? or nearly ?5.60 a gallon.
Petrol will rise by 5p a litre by the spring and 10p by the autumn as the cash-strapped Government raises taxes from motorists to pay off its massive debts, said the Petrol Retailers' Association.
Motorists are feeling the pinch again as the cash-strapped Government increases fuel taxes Among the tax changes planned or predicted are increases in VAT and fuel duty, the ending of the duty incentive to refiners for the production of biofuel, and tax increases in a snap post-election Budget On top of the tax rises, Britain's 33million motorists are also likely to face rises of up to 5p a litre due to increases in market costs.
Taken together that will mean a 15p rise in the cost of a litre of petrol ? equivalent to 68p a gallon.
Diesel will rise from 110p to 125p a litre, said the association.
Unleaded hit a record 119.7p a litre in July 2008 after oil peaked at around $147 a barrel. It is currently trading at around $79 a barrel.
The tight profit margins for retailers would force up to 750 filling stations to close this year ? 50 per cent above the recent rate of about 500 a year ? hitting many rural sites on which country dwellers depend.
Brian Madderson, chairman of the Petrol Retailers' Association, which represents 6,000 of the UK's 9,000 filling stations, said: 'The Government is desperate for cash and motorists are an easy tax target. It will mean motorists paying record levels for their fuel.
'2009 has been a tough year for consumers and we are looking at an even tougher year ahead.'
The AA revealed recently how motorists are facing a postcode lottery of petrol prices ? with drivers living farthest from a price cutting supermarket paying up to 5p a litre more.
) but wait till you see how much is going on fags again, there will be a rising and there'll be riots.
Come the revolution......
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