According to the RAC, the average cost of filling a typical family car with fuel has surpassed £100 for the first time.
The situation is likely to exacerbate the cost-of-living crisis for motorists and customers, as businesses will eventually look to pass on rising costs.
“It’s a truly dark day today for drivers,” said Simon Williams, the RAC’s fuel spokesperson, “with petrol now crossing the thoroughly depressing threshold of £100 a tank (£100.27p).” A full tank of diesel now costs £103.43. With average prices so high – 182.31p for a litre of unleaded and 188.05p for diesel – upward inflationary pressure is almost certain, which is bad news for everyone.”
Chancellor Rishi Sunak cut fuel duty by 5p three months ago in an effort to protect drivers from rising costs, but the RAC said the measure now appears “paltry.”
On Tuesday, the price of unleaded gasoline increased by 2.23 pence per litre, the largest one-day increase since the early 2000s.
The cost of filling up a standard car in the UK, which was already at an all-time high, increased by the most in 17 years, highlighting the inflationary pressures the country is facing as a result of soaring fuel bills.
Fuel Panic Buying
A trade group representing thousands of fuel retailers has called for an independent investigation into the ongoing fuel supply issues.
According to the Petrol Retailers Association (PRA), deliveries are still far too slow, and the recovery is “simply not happening quickly enough.” They also suggested that both motorists and forecourt owners require protection in order to avoid a repeat of the crisis.
“The recovery is simply not happening fast enough,” said PRA chairman Brian Madderson. We are now in the 15th day of the crisis.
“An independent investigation into the crisis is required so that motorists are protected from such acute fuel shortages in the future.”
A shortage of HGV drivers caused the fuel supply crisis, which was exacerbated by panic buying.
A cabinet minister has admitted that the supply crisis, which has resulted in fights at gas stations and empty supermarket shelves, could last until Christmas.
Kwasi Kwarteng, the business secretary, expressed hope that the immediate upheaval caused by fuel shortages would subside, revealing that soldiers would be “on the ground” and driving tankers within a few days.
Despite the government’s emergency measures, Mr Kwarteng admitted that Britain’s supply chain woes, caused by a severe shortage of lorry drivers, could last for months.
When asked if the government was confident that the problems would be resolved in time for Christmas, Kwarteng replied, “I’m not guaranteeing anything.” All I’m saying is that I believe the situation is settling.”