Bad news for hard-up motorists, fuel prices could soar towards the end of the year if recent media reports are to be believed.
Speculation is rife that after the average petrol price reached a year high of 108.6 pence a litre this month, further increases are on there way.
Add this to the imminent end of the temporary VAT cut on January 1, and a litre of petrol could rise by around 2 pence in taxation alone.
According to the Mirror, petrol could cost more than £5 a gallon before the end of the year. In fact, PetrolPrices.com who forecast the increase say that the cost of petrol is on course to increase 26 per cent since the start of the year.
UK motorists are now facing increased fuel bills despite declining oil prices on the world market, with barrels now trading at less than $80, down from a recent peaks of $100.
The UK market is heating up so fast that it is blamed for the presence of around ten oil and gas vessels which have remained anchored in Lyme Bay in Devon awaiting the fuel prices to rise. The Telegraph report that international oil traders are keen to squeeze extra profit from their imports to Britain.
Local residents in the area say that some of the tankers have been waiting there for months.
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With the national average diesel price now standing at 110.00 it has never been more impotrant for businesses to shop around for their fuel. Follow our six simple golden rules when choosing a fuel supplier:
•Expect savings of 2p to 3p per litre on national average pump prices. Avoid any fuel card which does not offer discounts.
•Expect a choice of five or more cards. Avoid those suppliers, offering just one or two cards, who can not give truly impartial advice on the best card to meet your specific needs.
•Expect a dedicated, named account handler who always takes your call. Avoid any supplier who wants you to queue for a random call centre operator who knows nothing about your business.
•Expect regular reports, with customised alarms for fast notification of abnormal card use. Avoid any supplier who does not offer 24/7 online access to your account details.
•Expect every individual card to be tied to a specific driver or vehicle, making it useless to anyone else if lost or stolen.Avoid any supplier whose cards are worth stealing.
•Expect access to a large, nationwide branded network, such as BP, Esso, Shell or Texaco. Avoid any supplier who says that being able to refuel at any garage is more important than discounts.
