Brits paying $8.60 a gallon for gasoline $125 to fill family car
The cost of filling an average family car in the U.K. has surpassed £100 for the first time ever.
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Britons are now paying over £100 ($125) to fill up an average-sized family car after petrol prices soared past the psychological threshold for the first time ever Thursday.
The price is based on the cost of filling up a 55-litre family saloon — £100.27 — as average U.K gasoline prices surpassed £1.82 a litre. This equates to roughly $8.60 per gallon. One litre is equal to 0.264172 U.S. Gallons.
The cost of filling an equivalent car with diesel is £103.43, with diesel now priced at £1.88 a litre.
British auto company RAC gave the numbers. It said that it was a “truly dark day for drivers today” because fuel prices keep rising.
Simon Williams, spokesperson at RAC for fuel said that although fuel prices continue to set new records daily, some households may not have expected to pay three times the price of filling a standard-sized family vehicle.
This Thursday milestone marks the latest sign of continued pressure on fuel prices due to Russian oil sanctions, and rising inflation.
Unleaded gasoline is more expensive now than ever before 37% more expensiveThis week in the U.K. was better than last year’s, but diesel is still 38% more costly.
To reduce motorist’s costs, the U.K. government declared a 5pence per-litre fuel duty cut in March. But, motoring associations have warned retailers that they aren’t passing on the cuts. They also said that more support is required.
“March’s 5 [pence]The fuel duty reduction now seems paltry since wholesale petrol prices already rose by five-times the amount since Spring Statement [25 pence]Williams stated that he agreed.
“A further duty reduction or a temporary decrease in VAT would help drivers, especially for those who are on low incomes and cannot drive,” he said.
Analysts in the industry predict that petrol prices will rise further.
“We are certainly peppering the £2 a litre mark at the moment,” Gordon Balmer, executive director at the Petrol Retailers Association, told Sky News Thursday.
However, it isn’t the most expensive European country to buy fuel.
According to British motoring association, the AA. Denmark is the country with the highest petrol prices in the region. The price at the pump was £2.05 a litre as of 30 May.
This was then followed by Germany, Greece and finally Britain.
According to an AA spokesperson, the main reasons behind the differences in fuel prices on the continent are exchange rates, VAT levels, and duty levels.