Qualified advisers answering your
Financial Questions
call 0800 092 1245

Price of petrol set to rise further

The price of petrol in the UK is moving higher and higher with a potential 3% increase expected by the August Bank holiday weekend and an 8% increase over the next year. This will take the average price of a litre of fuel in the UK to 125.9p as changes to the VAT system and an increase in fuel duty kick in. It seems that UK motorists are yet again being milked by the authorities in an effort to shore-up the UK balance sheet.

However, while an increase in petrol prices will impact motorist directly it will also have a major impact upon the cost of everyday items. Transport costs make up a large portion of the overall cost of goods available in supermarkets and shops around the UK and when you also take into account the rise in the price of grain we could see inflation spike significantly higher in the short to medium term. This would blow a hole in the UK government's economic policies, place more pressure on UK consumers, place more pressure on UK businesses and ultimately put the Bank of England in a very difficult situation.

A very difficult situation in the UK would appear on the verge of getting much worse!

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details