As the cost of petrol and diesel continues to soar this week, the RAC have today said that drivers can expect to pay £2 per litre later this year. This will further add to stresses on many family budgets as the increased cost of driving to work will exceed any pay rises workers can currently expect.

RAC fuel spokesperson Simon Williams said: ‘The cost of filling a 55-litre family car with petrol has now topped £98 for the first time in history as a result of a litre hitting a new all-time high of 178.5p on Monday.  Diesel also rose to yet another record by reaching 185.2p which takes the cost of a tank to £101.86.

Drivers need to brace themselves for average fuel prices rocketing to £2 a litre which would mean a fill-up would rise to an unbelievable £110. The oil price is rising due to increased demand for fuel across the world as China eases its Covid restrictions and America and Europe go into the peak summer driving season.

The wholesale price of diesel is fast approaching 160p a litre which, when you add 7p retailer margin and 20% VAT, would take the pump price over the £2 mark.

We strongly urge the Government to take drastic action to help soften the impact for drivers from these never-before-seen pump prices.’