THE TELEGRAPH: Petrol is due to hit a record of 120p a litre in a matter of days, even though the price of oil is little more than half the levels it was at its peak, the AA motoring group has warned.
Senior MPs and motoring groups said that oil companies were "mugging motorists on the forecourt" and urged Alistair Darling, the Chancellor, to delay next month's planned increase in petrol duty as well as investigate why drivers were paying so much.
The average petrol price across the country is 115.9p for a litre of unleaded and 116.6p for a litre of diesel, according to Petrolprices.com. However, the Treasury is due to add a further 3p on April 1.
Even without this increase the price at forecourts is due to hit 120p very soon, according to the AA. This would overtake the previous high of 119.7p, which motorists suffered from in July 2008.
At the time the high price of petrol was blamed on the surging price of crude oil, the key raw material in petrol, which within weeks of the record petrol price hit its own record of $147 a barrel.
However, crude oil is now $78 a barrel and there are more than 250 petrol stations charging more than 120p a litre for unleaded and diesel.
Lindsay Hoyle, the senior Labour MP on the Business Select Committee, said: "This is a complete disgrace. Yes, crude oil has gone up this year, but nothing like the rise in petrol prices. Motorists are being legally mugged at the forecourt by petrol companies." >>> Harry Wallop, Consumer Affairs Editor | Monday, March 15, 2010
