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Fuel prices could hit £1.20 a litre by Christmas |
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Written by Karl
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Monday, 24 August 2009 21:59 |
 Fuel prices are set to hit over 120p a litre by the end of the year, motorists have been warned. Fuel prices on forecourts have increased by nealy 20p a litre since the start of 2009, adding £11 to the cost of filling up an average fuel tank.
Wholesale oil prices have continued to climb, rising to $70 a barrel last week, prices at the pumps have risen at a faster rate. When VAT reverts back to 17.5 per cent, it is looking more and more likely that petrol prices will head towards last summer's record highs. The RAC estimates the average price for a litre of unleaded is now 103.9p, but in many areas drivers are paying more.
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