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Glasgow Live
Glasgow Live
National
Neil Lancefield (PA) & Katie Williams

Drivers issued warning as petrol prices set to rise to £2 per litre this summer

Drivers have been warned that petrol prices are set to rise again.

The RAC have estimated that the average fuel price will hit a whopping £2 a litre this summer.

This comes after the rising cost of oil and the weakening of the pound verses the US dollar, according to PA reporters.

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The average price of a litre of petrol at UK forecourts on Monday was a record 175.6p, jumping up by 6.6p from 169.0p just seven days earlier, according to the latest Government figures.

Meanwhile, the average diesel prices increased by 3.7p per litre over the same period, reaching 185.3p, making it the largest weekly increase for both fuels since March.

RAC fuel spokesman Simon Williams said: "With analysts predicting that oil will average 135 US dollars a barrel for the rest of this year, drivers need to brace themselves for average fuel prices rocketing to £2 a litre, which would mean a fill-up would rise to an unbelievable £110.

"The oil price is rising due to increased demand for fuel across the world as China eases its Covid restrictions and America and Europe go into the peak summer driving season.

"All this combined with a weaker pound at 1.2 US dollars means wholesale fuel costs more for retailers to buy. The wholesale price of diesel is fast approaching 160p a litre which, when you add 7p retailer margin and 20 per cent VAT, would take the pump price over the £2 mark.

"We strongly urge the Government to take drastic action to help soften the impact for drivers from these never-before-seen pump prices."

This comes as the Treasury cut fuel duty by 5p per litre in March.

Separate pump price figures from data firm Experian Catalist - which uses a different methodology to the Government - suggest the average cost of a litre of petrol on Monday was 178.5p, with diesel at 185.2p.

Alex Hasty, director at comparethemarket.com, said: "As the cost of fuel increases, it is becoming tough for many drivers to stay on the road. Our research shows high petrol and diesel prices are now forcing drivers to make fewer journeys, and some are needing to cut back on seeing friends and family.

More than eight in ten drivers are worried about the increasing fuel prices and one in three fears they won't be able to cover the cost of driving in the coming weeks. Concerningly, 31 per cent of drivers think they will need to take on additional debt to afford to keep driving.

"There are a few ways motorists could save money to help offset the higher costs.

"Driving smoothly and removing heavy items from your car can help your vehicle use less fuel.

"Making sure your tyres are at the correct pressure not only improves the safety of your car, but it can also cut petrol costs, as well as help your tyres last longer. Motorists could also save more than £100 by switching to a cheaper car insurance policy ahead of their renewal.”

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