The RAC today predicted a "bleak" future for British motorists after average petrol prices hit an all-time high of 120p a litre.
The roadside recovery group said that a combination of factors, including the weak pound and an increase in the wholesale price of fuel, had caused a steady rise in petrol prices since the beginning of the year.
It added that rises in fuel duty costs since December 2008 had added around 10p to the cost of a litre of fuel. A week ago, fuel duty rose again by 1p a litre.
The Government announced in last month's Budget that it would still introduce a 2.5p rise on fuel duty, despite widespread anger from motorists but would stagger the increase. Following last week's increase, it will rise by a further 1p in October with the remainder in January.
The record high eclipses the previous peak of 119.7p set in July 2008.
This week the cost of crude oil hit an 18-month high, above $87 a barrel from $69 in early February. The price has been rising steadily since early February, when it stood at about $72 a barrel.
Adrian Tink, an RAC motoring strategist, warned that the headline 120p figure was just an average: “In some areas motorists will be paying close to £6 a gallon (131.9p a litre).
“With the election campaign now in full swing, Britain’s hard-pressed motorists will be keen to hear what the political parties have to say about the escalating petrol prices. This is a key issue for Britain’s 32 million motorists who are watching their bank accounts drained every time they fill up.”
In the Budget announced last month, Alistair Darling said that fuel duty would be raised by 1p in October and by 1p again in January 2011.
Earlier this week, the AA said that 48 per cent of drivers were using their car less as petrol prices increased. Another 34 per cent were siphoning cash from other parts of their family budget to pay for petrol or diesel.
