Petrol prices set to rise to record highs
Yesterday saw the price of crude oil hit USD86 a barrel with concerns that we will see short-term increases in the price of fuel in the UK. This comes at a time when UK motorists are already coming to terms with a two pence increase in fuel duty to be followed by a further increase in October and April 2011. The cost of driving in the UK has risen significantly under the current government but then again UK motorists have always been seen as cash cows for the government of the day.
The cost of fuel in the UK is predominantly made up of fuel tax and in times of trouble and financial constraint within the UK government we have seen regular increases in fuel duty. When you also consider the ever-increasing cost of road tax and insurance in the UK there is no doubt that UK motorists have never been as worse off as they are today.
As we enter the "closed period" ahead of the election the UK government will be unable to introduce any incentives for UK motorists and they will literally have to make do with the ever-increasing cost of keeping their vehicles on the road.
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