Petrol and diesel prices could smash £2 a litre by May as drivers demand 'vital' VAT cuts

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According to the RAC Foundation, current petrol prices stand at 165.89p per litre, while the average price for a litre of diesel is 177.34p. This is a staggering rise compared to March 2021 when petrol prices were just under 126p per litre, with diesel almost 50p cheaper at 128.66p per litre.

The UK has seen five weeks of nearly continuous pump price rises, with all-time record prices being smashed almost every day.

Luke Bosdet, fuel price spokesperson for the AA, said drivers were suffering the most as a result of the petrol and diesel prices.

He added: “Drivers, already spooked by news of surging oil prices, then saw the forecourt price boards ticking upwards rapidly.

“By early March, it was common to see those pump price rises going up in 2p or 3p leaps.

READ MORE: Drivers choosing petrol over EVs could lose £5,000

Mr Bosdet also highlighted the need for the Government to get involved, saying: “If the fuel trade once again drags its feet in passing on savings at the pump, this time the Government may take notice.

“The Chancellor might feel that a cut in fuel duty is likely to be lost in what should be a general fall in pump prices.

“Anyway, with the fuel retailers’ knack of coming up with reasons to hang on to chunks of potential pump-price savings, there’s no guarantee that a reduction in fuel duty would be passed on in its entirety to struggling consumers.

“Before the pandemic, you could be certain that the fiercely-competitive supermarkets would fall over each other to announce a price cut on fuel. But where are they these days?”

Many are looking at Chancellor Rishi Sunak to ease pressure on UK drivers at a time when record household costs are affecting the nation.

He is set to unveil his Budget at the Spring Statement on March 23, with Mr Sunak saying it was his “priority” to cut taxes.



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