Petrol prices have reached an all-time record high on what has been named a ‘dark day’ for drivers.
The average price of petrol across the UK on Sunday was 142.94p a litre – beating the former record, set in April 2012, by 0.46p.
Meanwhile, diesel prices reached 146.5p a litre yesterday, just short of its all-time high of 147.93p, the AA said.
Some drivers are predicted to cut back on food and heating to make up fuel costs, as experts ask ‘where will it stop?’
Forecourt prices have risen sharply over the past month after panic buying sparked a fuel shortage.
Thousands of worried drivers flocked to pumps as a shortage of more than 100,000 HGV drivers came to light.
RAC fuel spokesman Simon Williams said: ‘This is truly a dark day for drivers, and one which we hoped we wouldn’t see again after the high prices of April 2012.
‘This will hurt many household budgets and no doubt have knock-on implications for the wider economy.
‘The big question now is, “where will it stop and what price will petrol hit?”
‘If oil gets to 100 dollars a barrel, we could very easily see the average price climb to 150p a litre.
‘Even though many people aren’t driving as much as they have in the past due to the pandemic, drivers tell us they are just as reliant on their cars, and many simply don’t have a choice but to drive.
‘Those on lower incomes who have to drive to work will seriously struggle to find the extra money for the petrol they so badly need.’
The RAC has urged the Government to ‘help ease the burden at the pumps’ by temporarily reducing VAT.
Large retailers have also been asked to bring the amount they make on every litre of petrol back down to the level it was prior to the Covid pandemic.
The AA has called for motorists to consider switching to electric cars which are cheaper to run.
A 20-mile round trip today would cost around 25p for the driver of a small electric car with a cheap energy supplier, the motoring association said.
Meanwhile, someone driving a small petrol car would pay 10 times more.
Spokesman Luke Bosdet said today: ‘Whether it’s down to oil producers, market speculators, Treasury taxes or struggling retailers trying to balance their margins, record pump prices must be saying to drivers with the means that it is time to make the switch to electric.
‘As for poorer motorists, many of them now facing daily charges to drive in cities, there is no escape.
‘It’s a return to cutting back on other consumer spending, perhaps even heating or food, to keep the car that gets them to work on the road.’
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