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Fuel prices escalating at quickest rate in 10 years

  Friday, 11 February 2011

The price of petrol is escalating at its quickest rate in a decade with the record-high fuel prices said to be affecting UK motoring habits.

The AA revealed that average fuel prices have risen to a record 128.77p a litre in mid-January – an increase of 6.13p a litre.

Meanwhile recent research by comparison website Moneysupermarket.com suggests that motorists are adapting their driving habits simply because of the rising cost of fuel. Five per cent of those surveyed indicated that they had stopped driving altogether because of the ‘war’ on motorists.

Moneysupermarket spokesman, Kevin Mountford said: “With the effects of the VAT rise taking hold, and the latest inflation data highlighting the pressure on our wallets, fuel is another day-to-day cost that people are really struggling with.”

As a result the Fair Fuel UK Campaign has gathered pace, with more than 10,000 signatures calling for the Government to abandon the planned fuel duty increase on April 1.

The rise in motoring costs is not just being felt by the drivers. The cost of fuel to businesses is above inflation, placing undue pressure on finances resulting in job losses and even insolvencies.

Many motorists are now turning to salvage car auctions to pick up a bargain, as used car list prices have increased following last month’s VAT increase.

Damage-repairable and stolen-recovered vehicles are available to purchase on a weekly basis. Motoring enthusiasts who know their way around a car bonnet may consider refurbishing a salvage vehicle themselves with an impressive range of used car parts to buy for almost any vehicle in the world.

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