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Fuel prices to soar by 12p a litre over the coming weeks?

Petrol

Fuel prices to soar by 12p a litre over the coming weeks?


Motorists were warned yesterday to expect within weeks price increases of 8p per litre for petrol, and 12p per litre for diesel.

The alert by a top economist follows a surge in the price of Brent crude — up a fifth since summer.

If the average car uses about 35 litres of fuel a week, forecasts would add £150 a year extra to motoring bills.

Howard Cox, of the pressure group Fair Fuel UK, called on chancellor Philip Hammond to freeze fuel duty in his budget on November 22.

Fuel duty has remained at 57.95p a litre since 2011, but diesel is taxed higher than other EU countries.

Mr Cox said: “Britain's struggling small traders and businesses deserve and need all the help they can get”.

Further rises in petrol and diesel will boost inflation and put pressure on the Bank of England to raise interest rates again, he warned.