Fuel duty rise edges petrol prices towards record high

Petrol prices will approach a record high tomorrow as a 1p rise in fuel duty comes into effect.

The average price of petrol is currently hovering at 117.8p a litre. The record average was set in 2008 and stands at 119.7p.

Petrol had been due a 3p increase on April 1st, but the Chancellor announced in the Budget that the rise would be spread over three stages to reduce its impact.
Prices at the pumps will therefore go up by a penny tomorrow, followed by a 1p in October and another 0.76p next January.

Motoring organisations had encouraged the Chancellor to scrap the increase in duty as British drivers have already had to endure a substantial rise in petrol prices over the past three months.

But with government borrowing at record levels the Budget was always likely to delve deeper into motorists' pockets.

The RAC claims that when tomorrow's price increase is taken into account, the cost of refuelling the average car will have risen by £121 since the start of the year.
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