The average cost of a gallon of petrol has reached £6 for the first time ever according to the AA.
A litre of petrol now has a median price of £1.32.12, a rise of 6.93 pence since the start of 2011 and an increase of 1.68 pence in one week.
The ongoing crisis in the Middle East means that further increases are likely. The price rises will add further pressure on George Osborne to abandon increases in fuel duty that were expected to be announced in the budget later this month.
AA president, Edmund King said: ‘This £6 a gallon is not simply another milestone along the road to higher fuel prices. It marks the point at which the wheels start to come off mobility in 21st-century UK.’
The cost of diesel has also reached an all-time high of £1.37.92 pence.
The steep spike in petrol prices is having a devastating effect on haulage firms and rural communities who rely on their vehicles for trips to purchase essentials.
The average price of a litre of petrol has increased by 15.8 pence in the last year. For a family of four with two cars who drive an average amount of miles per month this represents an increase in costs of £40 per month.