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Home Featured

A litre of petrol is now nearly £1.60, while diesel is even higher

Price spotted at BP garage in Winnersh on Saturday, March 6

Phil Creighton by Phil Creighton
Sunday, March 6, 2022 4:26 pm
in Featured, Reading
A A
The price of a litre of unleaded at the BP on Wokingham Road at Winnersh is now 159.9p - and diesel is 169.9p

The price of a litre of unleaded at the BP on Wokingham Road at Winnersh is now 159.9p - and diesel is 169.9p

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THE price of fuel has nearly hit £1.60 a litre, while diesel is almost £1.70 a litre.

Prices at the pumps have been rising in recent weeks, spurred on by a rise in the price of a barrel of oil.

At the weekend, the BP garage at Winnersh raised the price of unleaded to 159.9p per litre, and diesel to 169.9p.

There have been similar, but smaller, rises to the price of other garages in Wokingham.

The BP at Finchampstead Road was 154.9p for unleaded and 155.9p, for example.

Last week, the Fair Fuel UK campaign warned that the price could rise to £1.80 per litre.

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The price of fuel is a mixture of taxes and the cost of a barrel of crude oil. Last year, the average price was $68.17, while this year so far it is £89.21. However, the cost is rising, with the current price of $115.06.

Fair Fuel is causing for a cut in fuel duty to help motorists, arguing that the rate motorists are paying is between 10p and 14p per litre higher than it should be, with total taxation on fuel running at around 55%.

The group also wants to see a PumpWatch monitor introduced to ensure the price at the pumps is fairer for motorists.

Craig Mackinlay MP, the chair of the Fair Fuel APPG, said: “A PumpWatch monitor similar to Ofwat or Ofgem could ensure that reductions in oil prices are properly passed on to motorists at the fuel pump.

“It is unjustifiable that motorists continue to be over-charged for their fuel during a period of rapidly rising inflation across the board.

“HM Treasury could also help by using the VAT windfall being derived from high current pump prices.

“The cost-of-living crisis is already proving incredibly painful for many and sanity needs be restored to petrol pricing as quickly as possible.”

Howard Cox, the group’s founder, said: “The sickening hold the fuel supply chain has over pump prices is more than perverse, it’s tantamount to being criminal.

“Why is Rishi Sunak, and he knows this full well, not acting to check the uncontrolled profiteering that is damaging the economy, the highest taxed drivers in the world and fueling inflation.

“Why is he scared of introducing PumpWatch? Surely it can’t be, because of the gargantuan pile of VAT the Treasury gets due to the punishing costs of filling up at the pumps.”

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