Platinum Jubilee fuel price surge could become a ‘national crisis’ and needs ‘radical’ intervention – RAC
A “national crisis” is emerging as a result of surging fuel prices over the platinum Jubilee bank holiday, motoring giant the RAC has said.
The driving champions warned unless there was “radical” intervention from the government, people would suffer at the pump even further.
This comes after the price of petrol went up by £3.16 over the jubilee celebration, while filling up a tank of diesel now costs more than £100, the AA reported.
It said a typical 55-litre car tank has gone up from £94.67 to £97.83 for petrol and from £100.49 to £101.76 for diesel.
“The relentless run of record fuel prices continued over the bank holiday with the average price of petrol rocketing nearly 4p a litre since the end of May”, said RAC fuel spokesperson Simon Williams.
“A litre of unleaded is now a frightening 177.88p” and with “oil above $120 a barrel and sterling still at $1.2, worse is still to come.
He added the price of petrol is likely to exceed180p and diesel moving past 190p this week.
“More radical government intervention is urgently needed” he said, suggesting in a reduction in fuel duty or VAT cut, because otherwise “drivers surely won’t be able to cope”.
“This is fast becoming a national crisis for the country’s 32m car drivers as well as countless businesses.”
Luke Bosdet, the AA’s fuel price spokesman, said “shock and awe is the only way to describe what has been happening at the pump during the half-term break.
“Little wonder that nearly half of drivers stayed at home for the Jubilee-extended bank holiday”.
Treasury responded to calls for help, saying: “We understand that people are struggling with rising prices which is why we have acted to protect the 8 million most vulnerable British families through at least £1,200 of direct payments this year with additional support for pensioners and those claiming disability benefits.”
It dismissed the claim there had been a ‘VAT windfall’ and insisted it had introduced a cut to all fuel duty rates worth £5bn. Many consumers and firms however complain they have not seen this cut passed on.