Petrol and diesel prices have reached record highs, according to new figures. The news came as the cost of living rate in the UK soared to a 40-year-high of nine per cent.
Statistics from data firm Experian Catalist show the average cost of a litre of petrol at UK forecourts on Tuesday was 167.6p. The previous record of 167.3p was set on March 22, the day before a 5p cut in fuel duty was implemented.
Diesel prices continue to climb to new highs, reaching an average of 180.9p per litre on Tuesday. That was the same day Business Secretary Kwasi Kwarteng wrote to fuel retailers “to remind them of their responsibilities” following claims retailers hiked profits following the reduction in duty.
