MOTORISTS are feeling the pinch again as the average price of unleaded petrol hit the £1-a-litre mark for the first time in seven months.
Average prices of unleaded petrol and diesel at filling stations within a 10 mile radius of Oxford now stand at 100.1p and 103.6p respectively.
After peaking at 119.9p and 132.9p in July last year, prices had slumped to 87.8p and 99p by January.
But since then the price of unleaded petrol has shot up by 12 per cent, according the price comparison website PetrolPrices.com That means it’s costing around an extra £6 every time you fill up the tank on an average family car.
Mother-of-two Helen Gustafson, 48, of Poplar Grove, Kennington, said: “It’s hurting everybody.
“Every time we fill up it seems to cost us more and more.”
Oxford cabbie Jeffrey Measor, owner of Radio Taxis, said rising prices were a real worry as the recession continued to bite.
He said: “Trade has dropped off and the price of fuel is going up.
“In the current economic state, you can’t put fares up as the price of fuel rises because you are fighting for trade. Competition is fierce –– it’s very difficult.”
Taxi driver Israr Chaudhary, 26, from Rose Hill, added: “With the credit crunch, business has been very quiet this year and fuel prices are hitting us hard.
“When there is work, we spend half the money on fuel.”
Andrew Howard, head of road safety at the AA, said: “It seems speculators have moved back into the market like they did last summer.
“People are buying oil in the hope prices rise and it’s stifling the economy –– people who have got money to spend are spending it on fuel instead of other goods.”
Petrolprices.com spokesman Louise Doherty said nationally 2,014 stations out of 7,032 –– 29 per cent – were selling unleaded petrol for at least £1 per litre.
She said: “Rising oil prices and a rise in fuel tax of 2p in April have contributed to the increase at the pumps. Oil hit $39 a barrel in December 2008, its lowest point since late 2004, but now it is trading at around $60 a barrel.
“The price of both unleaded and diesel has been creeping up as oil prices have started to rise again, but there are still a large number of stations selling unleaded below £1 a litre. By buying the cheapest fuel, drivers can help increase the competition between retailers and keep prices as low as possible.”
tshepherd@oxfordmail.co.uk
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