The cost of filling up the average 55-litre family car has shot to £100 for the first time ever.
According to data released today by Experian Catalist, petrol prices have reached an all-time record of 182.3p, going up by 1.6p from Tuesday, while diesel increased by 2.9p to 188.1p.
Commenting on the increase, RAC fuel spokesperson Simon Williams said today was a “truly dark day” for drivers, as no one would have expected to “see the cost of filling an average-sized family car reach three figures.”
Williams called for further government support, arguing that the 5p per litre cut looked “paltry” as whole petrol costs have increased five times since Chancellor Rishi Sunak set it in March.
“A further duty cut or a temporary reduction in VAT would go a long way towards helping drivers, especially those on lower incomes who have no choice other than to drive,” he said.
Williams’ remarks were echoed by Edmund King, the AA’s president, who urged the government to shave off a further 10p per litre and introduce a “fuel price stabiliser.”
“The government must act urgently to reduce the record fuel prices which are crippling the lives of those on lower incomes, rural areas and businesses,” he said.
“A fuel price stabiliser is a fair means for the Treasury to help regulate the pump price, but alongside this they need to bring in more fuel price transparency to stop the daily rip-offs at the pumps.”
Downing Street said yesterday the government will “name and shame” those fuel retailers who don’t pass on the cost cut to consumers.
“Transparency may have an important role to play,” said the Prime Minister’s official spokesperson.
“It is important the public understand what actions each of the fuel retailers are taking and so we are considering what further options we can take in this area.”
The hike in fuel prices – which is not expected to ease anytime soon – has already led to rising interest in electric vehicles (EV).
Auto Trader figures reported that, overnight, 20.2 per cent of all new car ads viewed on the online marketplace was for an EV.
“At £2 a litre there are more attractive cost savings to be made by driving an EV – we estimate you could save around £176 per 1000 miles driven in an EV,” said Auto Trader’s commercial director Ian Plummer.
“But even the reality of fuel at these prices is not going to be a game-changer for mass electric vehicle adoption until more affordable models come onto the market and drivers have more confidence over charging infrastructure.”