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Cost of petrol starting to rise again

While just a few weeks ago the press headlines were full of news regarding the falling price of oil and the reduction in petrol prices across the UK, things have certainly changed. As other aspects of the UK economic downturn take centre stage it has been revealed that petrol prices are starting to increase again. Experian Catalist confirmed that UK prices are now approaching 91p for a litre of petrol and £1.01 for a litre of diesel.

As the price of oil has fallen below $40 a barrel again there is little justification for the creeping price rises across the country, this is even before Gordon Brown introduces his next tax hike for fuel. The AA has been inundated with calls from motorists asking why prices are rising as the cost of oil continues to fall. The company is unaware of any specific reasons for the ever-increasing price of fuel and the supermarkets and other fuel retailers have been very quiet on the subject.

While the UK Petroleum Industry Association said it would not comment on current pump prices it did confirm that taxes, crude oil and refined product prices, exchange rates and competition are all factors which can and do influence the price of fuel in the UK.

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