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Fuel prices set to hit record highs!

posted on Oct 20 2010 by Matt

Fuel prices set to hit record highs!

The RAC has warned UK motorists that we could be seeing record costs per litre in the coming months, eclipsing the current record of 121.6p seen back in May of this year.

Currently the UK average is 118p per litre rising to 121p in London, with the increase being blamed on a sharp increase in oil prices and the October fuel duty increase of 1p per litre. However with the French oil refineries being blockaded France are bieng forced to import more fuel thus increasing demand and therefore prices in Europe.

In January there will be another rise in fuel duty and with the planned VAT increase and the extra demand for oil for heating through the winter months the outlook for motorists is bleak. An increase from the current price of 118p per litre to 124p would add 3 or so to the price of filling up a small family car. Already, around 5 per tank has been added since the turn of the year. Soon, even the smallest cars could cost well over 60 to fill up.

Never before has the cost of fuel been such an important factor when considering your new car. The only good news is with the average CO2 rules being enforced on manufacturers there are new, more fuel efficient, engines being launched all the time. VW are at the heart of this with new 1.2 turbo charged and supercharged engines now replacing the old, normally aspirated, 1.4 petrol engines. These new units are smaller and therefore use less fuel, but still produce, through clever technology, the same power and performance as the outgoing versions, so there is light at the end of the tunnel if you choose your next car carefully.

For more information on the most fuel efficient cars available for business and personal users, and the contract hire special offers available call the Leasing sales team on 01273 789 900 today.