The costs of gasoline and diesel in the UK reached new highs on Friday, exceeding the previous records set earlier this week, data from the British Motorists Association RAC shows.
The cost of a liter of unleaded gasoline jumped to £1.71 (about $2.16), up 31 pence, while the cost of diesel fuel rose to nearly £1.82 (about $2.30), up 29 pence – driving up the cost to fill up the tank of the average family car to £93.69 ($118.32).
“Petrol reached another unfortunate landmark… While wholesale prices may have peaked for the time being last week, they are still worryingly high, which means there’s no respite from the record-high pump prices which are so relentlessly contributing to the cost-of-living crisis,” RAC fuel spokesperson Simon Williams said.
In an attempt to curb the rising prices, Treasury Secretary Rishi Sunak announced in March that the government will reduce the duty on fuel by 5 pence per liter until March 2023. It is reportedly the biggest cut in history, but motorists view the measure as insufficient due to the soaring prices at the pump. According to the RAC, a temporary reduction in VAT would have been a more effective way to help drivers.