Petrol exceeds September 2000 Prices - 20th Dec 2007

• Petrol is now more expensive than ever before, including during the Fuel Protests
• Lorry drivers are hit particularly hard as Diesel reaches unprecedented levels

We all know that petrol prices are rocketing lately, mainly caused by the record breaking oil prices. Shocking new research from Whatprice.co.uk shows that for the first time ever petrol is now more expensive than during the fuel protests in September 2000 which the UK was brought to a standstill.

These protests were sparked by fuel prices reaching 84p/litre, which in real terms today (inflation adjusted) corresponds to 102.6p/litre. This is over 4 pence a litre cheaper than the current price of Diesel.

The last month has seen both Petrol and Diesel smash through the £1 barrier, with Unleaded standing at 102.7p/litre and Diesel reaching an all time of 107.2p/litre; significantly greater than the price that sparked hauliers around the country to blockade fuel refineries and drive ‘go slow’ convoys along our motorways.

In September 2005 there were another round of fuel protests, and at that time Diesel was at 102.3p/litre in today’s money, nearly 5 pence cheaper than the price at the pump right now!

So why are there no fuel protests this time around?

The graph below shows that not only is unleaded fuel higher than 7 years ago when the forecourt pumps were forced dry, but also that Diesel is outstripping Unleaded by a far greater margin than before.

All data from 03-present is gathered from the Whatprice.co.uk database of fuel prices, data obtained prior to 2003 is gathered from various sources on the internet. Inflation adjustment uses figures from the Office of National Statistics information.

Alastair Taylor from Whatprice.co.uk states “The vast majority of the goods in the UK are transported around by Diesel lorries, and who is going to bear the brunt of this price increase? All of us will! The poor lorry drivers are trying to make a living and they will have to pass their costs onto the consumer.”

It could be a very expensive Christmas for some people if petrol prices don't come down soon....

Petrol and Oil

Oil prices have been on the up due to the recent market turmoil and geo-political concerns and peaked at almost $100 towards the end of November.

“Petrol Prices do not track the daily fluctuations of oil, but if we do see oil prices settle above the $100 mark then this will filter through to average petrol prices of £5 a gallon in a few weeks time”, says Jonathan Pearson, Co-founder of Whatprice.co.uk.

The most expensive region found to date is in the Shetland Isles, typically selling Unleaded at 115p  and Diesel for 119p, a staggering £5.40 a gallon. With no end in sight to the fuel increases this sort of pricing could become commonplace throughout the UK.

Petrol Price Map