News that the pound has fallen to a record low against the dollar since decimalisation is bad news for motorists as they face higher petrol costs.
Research by AA calculated that a tank of petrol for a family car has risen by £4.95, based on the $1.14 US dollars to the pound exchange rate recorded on Friday. Since then, the pound has slumped even more against the US dollar, to $1.03 on Monday morning, although it did later rise to $1.06 and later $1.08.
The additional drop recorded since the weekend means motorists will pay even more than the £4.95 extra for a tank that was calculated by the AA based on last week's rates for a 55-litre family car.
