Petrol Prices to Rise to £1 ($2) per litre as Crude Oil Prices Hit All Time High

As crude oil prices at making new all time highs, so petrol prices must also be forced to rise as petrol is made from crude oil.

There is a delay between oil and petrol prices, so the rise in oil prices will not affect petrol prices instantly, but the £1 per litre level looks like it is very much is sight now that oil is well over $80.

Both the RAC and AA have said they expect petrol to reach £1 (Over $2) per litre within just one month.

Some are calling for the government to lower taxes on petrol to help consumers cope with higher oil prices, but so far government policy looks set in stone, even thought the majority of that £1 will be taxes.

What do you think about rising oil prices and petrol prices?

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