Horror at the pumps as fuel prices soar past £2 a litre – and wont stop there

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The cost of living crisis will get worse for families today, as petrol prices are set to crash through the £2 per litre barrier across the country.

Yesterday saw the first few petrol stations hit that mark, with one in Gateshead hitting 202.9p per litre.

The wholesale oil price rose by around 6% in the last week, and shows no signs of slowing down.

And yesterday's jump, which saw pump prices go up 2p a litre in just one day, was the biggest daily rise in 17 years.

This could see a family facing the shocking cost of around £100 per tank if they want to fill up.

The shocking rise has seen the RAC call for “radical government intervention”, which has so far seen just a 5p cut in fuel duty implemented in March – which has already been engulfed by further rises.

RAC spokesman Simon Williams said: “More radical government intervention is urgently needed, whether that’s in the form of a further reduction in fuel duty or a VAT cut.

“As it is, drivers surely won’t be able to cope unless something is done to help.

“This is fast becoming a national crisis for the country’s 32 million car drivers as well as countless businesses.”

And AA fuel price spokesman Luke Bosdet said: “Shock and awe is the only way to describe what has been happening at the pump during the half-term break.

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“Little wonder that nearly half of drivers stayed at home for the Jubilee extended bank holiday.

“The forces behind the surge have been oil jumping back above 120 US dollars a barrel for the first time since late March, combined with petrol commodity prices being boosted by summer motoring demand.”

The government's response came by way of Housing Secretary Michael Gove, who claimed on Sky News this morning (June 9) that Chancellor Rishi Sunak is “on the side of those people who are struggling".

Speaking on Sky News, he said: “The Chancellor has been clear with the energy levy that he’s introduced that those companies that are making huge windfall profits will pay their way into helping people with the cost of living challenges that we all face at the moment.

"Nobody likes increasing taxes but the Chancellor is vigilant, and on the side of those people who are struggling most at this time.”

The shocking increase in fuel prices is being blamed on the war in Ukraine.

The Labour Party has called for oil and gas companies to face a "windfall tax" on their profits, something many of the companies themselves have also said they would be happy to see.

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  • Petrol
  • Money
  • Driving

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