Petrol prices expected to go higher in UK
Election campaign could get fired up by the record level of rise in petrol prices in the UK.
The fuel price has touched the highest level of 120 p per litre and is expected to touch 150 p in the days to come. The government is closely watching the reaction against the new level of price.
The price rise is seen an impact of 1p per litre rise in fuel duty. The previous high was 119.7 p which happened last year in July.
As per Adrrain Tink, the RAC motoring strategist, fuel duty makes up about the half of the cost and any rise in it has a direct impact on the final prices. He marked it as the dark day for the motorists and expects it to become a major electoral issue.
However, Brendean McLoughlin, Founder of Petrolprices. com attributed the raise to the weakness in pound. According to Paul Watters, head of roads policy at AA, "ASDA Factor" is responsible for the rise. He added, "If you live near a supermarket that sells petrol, you will benefit from lower prices because they can negotiate better deals with the suppliers because they are selling huge amount of fuel".