Oct
5
One of the most popular articles on MoneyHighStreet.com is that petrol may soon cost £5 per gallon. Well it certainly took a lurch towards that disconcerting figure this week.
For the first time, I saw diesel being sold at £1.02 per litre today.
With 4.55 litres to the gallon, this brings the cost of diesel to £4.64 per gallon. The problem is that there will be an additional 2p tax increase on fuel in April. So without any further increases in oil prices, that additional tax increase will drive the cost of diesel upwards to £4.73 per gallon.
Maybe our proficy of £5 per gallon is nearer than we expected, which is not good news to end the week on.
