Price of petrol in the UK has increased by the most in 17 years on a daily basis

• Average price of a litre of petrol hit 180.73p on Tuesday.
• The price was up 2.23p compared with the previous day.
• A similar increase on Wednesday would break the £100 barrier; for the average cost of filling a tank for a 55-litre family car.

The average price is 180.73p, with the cost of filling a family car for the first time threatening to reach £100. Petrol prices in the UK have risen by the most in 17 years, with the cost of filling a family car threatening to top £100 for the first time. According to the statistics firm Experian Catalist, a litre of petrol cost an average of 180.73p on Tuesday; up an incredible 2.23p from the previous day. On Wednesday, a comparable hike would breach the £100 barrier for the average cost of filling a 55-litre family car’s tank. Some forecourts, such as a BP garage on the A1 near Sunderland, are already selling petrol for more than £2 per litre.

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The price of gasoline in the United Kingdom

Diesel prices are also at an all-time high, with the average hitting 186.6p on Tuesday, up 1.4p from Monday. Because businesses frequently use diesel to fill vans and lorries; an increase in the price of the fuel has a considerable influence on the economy. Prices have risen due to rising demand for fuel around the world, notably in China and the United States; as Covid limitations are removed. Refinery capacity constraints have also kept pump prices high; even as oil prices have decreased from highs set at the start of the Ukraine conflict.

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