Further Increase in Fuel Prices Predicted

Jan 8 2012

Fuel prices will experience a further surge in 2012, with the average price of diesel rising above 145p per litre for the first time in history – according to a leading analyst in the car industry.  Those who own petrol cars will not have much to smile about either: the same company predicts that the average price of petrol will hover around the 140p per litre mark for most of the summer months.

The firm with this dark view of the immediate future is energy broker EnergyQuote – a company that provides fuel forecasts to fleet owners to help them budget for fuel costs more accurately.

The company’s lead energy analyst, Damien Cox, said to journalists “Prices will go up, especially after the duty increase in August.  On average, oil prices will likely be marginally higher in 2012 than in 2011.”

The company provided the leading motoring publication Auto Express with a monthly forecast of fuel prices for the rest of the year.  According to these figures the price of diesel will reach a new peak of 145.80p per litre in October 2012 and the price of petrol will reach a high of 139.26p per litre in August.

This is, of course, bad news for already cash-strapped motorists.  The situation will no doubt lead to even larger numbers of buyers to opt for smaller, more fuel-efficient cars rather than the gas guzzlers of yesteryear.  Fortunately car loans remain at an affordable level – for now.

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