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BBCNEWS Breakfast June 4, 2024 06:03:00

To the war in ukraine. our business corresponent ben boulos reports. itjust doesn t seem to stop going up. 0n the road with taxi driver neil. it was 1.79 yesterday and it s now 1.91 this morning. he relies on fuel for his business, but price rises are having a big impact. well, we re having to put prices up and customers don t particularly like it. they like to know their regularjourney. they do it regularly. they want to know what the price is. and we re saying, well, the price is going up. and they re saying, well, what s it going to be? but what is it going to be? if fuel continues to increase, its going to have to go up and up and up. the average cost for a litre of petrol is now more than £1.80. that means filling the tank of an average family petrol car will set you back more than £99. experts think it could hit £100 as soon as today. diesel prices are at a record high, too, costing an average £1.86 per litre or £102 for a full 55 litre tank. at one petrol station ....

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BBCNEWS BBC News June 4, 2024 16:13:00

Within the chancellor s grasp to do, and i think something should be done there because it is unfair that drivers are paying 30p a litre in vat. but when you look at it, the chancellor is probably still collecting more tax than before the duty cut, because of the increase in vat, going up by more than 5p per litre. after the last peak in the oil price, a big expansion of shale oil production boosted supply, bringing down the oil price. but that took five years. many of today s hard pressed households can t afford to wait that long. andy verity, bbc news. and i asked andy whether fuel prices are likely to rise further. that is the prediction at the moment, yes, i m afraid it is. if you look at the crude oil price, as i was saying, it is most of what is driving it, goldman sachs for example is predicting that will go up from the current level of $123 per barrel for crude oil to about $140 in the summer, because that s when the ....

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BBCNEWS BBC News June 4, 2024 08:02:00

The average cost of filling a typical family car with petrol in the uk is predicted to reach £100 or $125 today, as fuel prices continue to rise. the increase is largely blamed on the impact of the war in ukraine on global energy supplies. let s take a closer look at some of the figures. the motoring organisation the rac says the cost of filling an average family car is now more than £99 that is almost $124 us dollars. and as we have been saying that cost could rise to £100 or $125as early as today. on tuesday uk fuel prices jumped by two pence a litre. they went up to an average of more than 180p a litre. that is the highest daily price rise in 17 years. back in march, the uk government announced a five pence per litre cut in fuel duty ....

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BBCNEWS BBC News June 4, 2024 08:03:00

But motoring groups are concerned that retailers aren t passing on the cuts to customers. this report is from our business correspondent ben boulos. i doesn t seem to stop going up. on the road with taxi driver neil. it - the road with taxi driver neil. it was 179 yesterday and it is 191 this morning. he was 179 yesterday and it is 191 this morninu . , was 179 yesterday and it is 191 this morninu. , ., , was 179 yesterday and it is 191 this morninu. , ., ., morning. he relieus op oner fuel for his business- morning. he relieus op oner fuel for his business. we morning. he relieus op oner fuel for his business. we are morning. he relieus op oner fuel for his business. we are having - morning. he relieus op oner fuel for his business. we are having to - morning. he relieus op oner fuel for his business. we are having to put l his business. we are having to put rices u- his business. we are having to put prices up and his business. we are having to put prices up and customers hi ....

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BBCNEWS BBC News June 4, 2024 13:14:00

It s extremely expensive, it makes me think twice about having a car. when is it going to go down, that s the question, isn t it? | the cost of filling up is in three figures because fuel prices are surging, with the average petrol price up by 1.5 pence between tuesday and wednesday to a new record, and diesel at £1.88 a litre. the big reason for the soaring cost of petrol is, of course, the rising price of crude oil, driven higher by the global economic reopening post pandemic, and also made worse by the war in ukraine. but the price of crude oil has been higher than this twice before, in 2011 and 2008. and back then, the price of petrol was nowhere near this high. we know, as motorists, how much we are feeling the pain whenever we go to the pumps. but that pain is much, much worse for the lorry industry, on whom we all depend, because everything we get in britain comes on the back of a truck. and if our costs are going up, ....

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