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Petrol price rises after six months of falls

Written By Faye Sunderland Published On: Jan 13 2009
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We may be seeing an end to the recent spate of lower fuel prices according to The Mirror.The newspaper reported yesterday that petrol prices are rising again after six months of falls. Data from the AA revealed that the average price of a litre has crept up to 86.28p from 85.89p this week.Diesel is an average 98.47p a litre, up from a low of 98.06p on Tuesday.Motorists are still paying less than a year ago, saving £8.30 on a 50-litre tank. Diesel drivers are paying £4.77 less.AA's Paul Watters warned of "a 2p rise in fuel duty and VAT added this spring".The increase could be in response to the agreement among the Organization of the Petroleum Exporting Countries (OPEC) members to cut oil production in order to prop up flagging crude oil prices, although currently the price of crude is around $37 a barrel; a fraction of the July high of $147.

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