Petrol costs to soar as oil spikes
Motorists across the UK will be looking at ways to lower their motoring costs after oil prices reached a new high near $114 this week.
Drivers across the UK paid a record average of 107.94p for a litre of unleaded, according to the AA. Diesel also cost a record 117.13p - or £5.32 a gallon.
The new highs were revealed as the price of a barrel of oil jumped to $113.93 a barrel on the world commodity markets before settling back 50 cents.
In the UK, the average price of unleaded petrol is now close to the £5 a gallon mark that was breached by diesel more than a month ago. It means the cost of filling up a typical 50 litre family petrol car is around 16% or £7.63 higher than last year, with a diesel version 23%, or £11.09, dearer to fuel.
Car-dependent people living in rural communities and lower income drivers will be especially keen to find better car insurance deals after being the hardest hit by the rises. If maintained, the current record crude prices are weeks away from filtering through to the forecourts.
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