According to sources, the prices of petrol and diesel have the reached their highest points for the first time ever. It is being expected that the prices will increase further in the coming months.
Reports revealed that the cost of petrol has reached 140.20p a liter. The price at the beginning of the year 2012 was 132.25p a liter. While in case of diesel the cost has reached up to a high point of 146.72p a liter. The price at the beginning of the year was 140.56p a liter.
The budget put forward by Chancellor George Osborne emphasized that fuel rates will not be decreased or increased further, though the rise in fuel duty of 3.02p per liter will be implemented in August.
It is being expected that the rise in petrol price will definitely affect the monthly budget of almost all houses. Statistics show that on average a car owner utilizes 106.17 liters of petrol a month. The rise in cost by 7.95p will increase the monthly budget by £8.44 a month not including VAT.
However, it has been unveiled that the prices will differ by a margin of approximately 10p depending on the place of purchase. The cheapest unleaded fuel will cost 134.9p and the most expensive is 144.9p. The price margin in case of diesel was more, 141.9p-154.9p.