The escalating cost of petrol and diesel has emerged as a major concern for cash-strapped road users. Since the start of 2024, fuel prices have witnessed a dramatic increase, with data from RAC Fuel Watch revealing a substantial 9p per liter hike. This persistent upward trend has pushed petrol and diesel prices to their highest levels since November 2023, dealing a significant blow to household budgets, businesses, and the broader economy. RAC fuel spokesman Simon Williams expressed concern that the situation may worsen in the near future, as wholesale oil prices are anticipated to rise even further. This grim outlook is compounded by recent research from Confused.com, which found that 63 percent of road users have observed an increase in their motoring expenses over the past 12 months. Alarmingly, 18 percent have contemplated selling their vehicles altogether due to the financial strain. Williams cautioned that the widening gap between wholesale prices and retail margins, particularly for diesel, could prompt intervention from the Competition and Markets Authority. The relentless surge in fuel costs has prompted widespread discussion among motorists, with many considering alternative transportation options to avoid the escalating expense of filling up their vehicles.
Petrol and Diesel Costs Continue to Soar, Piling Pressure on Cash-Strapped Road Users
