New stealth tax, higher oil prices hit families - Car Rental News
New stealth tax, higher oil prices hit families
Car Rental News - 13/01/2011
Amidst soaring oil prices and a new stealth tax, a tank of petrol now costs £70.
Retailers are warning that the average family saloon will cost £70 to fill up by Easter. The price of petrol is rising dramatically as oil prices continue to skyrocket and the government brings in another stealth tax.
It will be no joke on 1 April when the new tax adds eight pence to the cost of each litre of petrol and diesel. This will mean a litre of petrol will cost £1.36 and a litre of diesel will cost £1.40.
An average family saloon with a tank holding 50 litres, will cost roughly £70 to fill up at the forecourt. This will make an increase of 25 per cent in just one year.
It was only 12 months ago that the average family saloon cost £56 to fill up. Back then, a litre of petrol was priced at just £1.10.
The latest concerns about the ever higher price of motoring came as the price for Brent crude hits $98 per barrel. It is 27 months since the price for Brent crude was at that level. Industry experts say that price could break the $100 threshold at any moment as global demand continues to expand.