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Friday, March 2, 2012

AA warns cost of filling family car will top £96 today as pressure grows to freeze fuel duty

Petrol prices are expected to reach an all-time high today as unleaded prices accelerate towards the £100 fill-up.

Unleaded has already climbed to within a fraction of the record 137.43p per litre set in May last year.

Last night the AA warned that this figure will inevitably be exceeded today, and will rise further. It means the average family have seen the cost of filling up their car soar by £18 to more than £96 over the past two years. A diesel fill-up has already exceeded the £100 milestone.

The news increased pressure on Chancellor George Osborne to cut fuel duty again for the UK’s 33million motorists – but all the signals from the Treasury are that he will not.

It comes days after the Daily Mail revealed that the UK is the fuel tax capital of Europe. British motorists are shouldering the heaviest tax burden in the EU at the pumps, paying 60p in every pound in duty and VAT.

The AA said pump prices were being pushed up by soaring oil and wholesale prices which, in turn, were driven by instability in the Middle East and ‘greedy speculators’. Read More