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Families driving home for Christmas could be hit with soaring petrol prices. The cost of fuel is set to hit a two-year high in time for the Christmas rush, adding £2.75 to the average tank.
If you know you have far to go this Christmas, checking on petrol comparison websites such as Petrolprices.com, will guarantee you find the best price for fuel in your area on any given date.
Petrolprices.com tracks the average price fuel prices at UK pumps and has already predicted that prices will rise from an average £1.15 per litre to £1.20 per litre by Christmas. Diesel is set to rise by the same amount from an average £1.17 to £1.22 per litre.
With the proposed price hike in mind, motorists could see the cost of filling up an average 55-litre car become 17 per cent higher that it was last Christmas, or £55 per tank. In December 2015, petrol prices were a much healthier £1 a litre by Christmas.
So, why the hike?
Unfortunately, motorists are subjected to the hikes thanks to the falling pound combined with the Organisation of the Petroleum Exporting Countries (Opec), which pumps a third of the world’s oil, taking measures to limit output for the first time in eight years.
Jason Lloyd, managing director at PetrolPrices.com, said: “Off the back of Opec’s action today, we expect the price of a barrel of oil to exceed $60, which means that UK motorists are going to feel it in their pockets in the coming 10 days.
“Everyone will be affected, so motorists need to keep an eye out for the cheaper petrol stations in their area. Supermarkets are less susceptible to these increases and will look to capitalise on their fuel voucher schemes to entice shoppers.”
Heaviest Christmas travel date
The AA has this week warned motorists will face particularly heavy traffic as Christmas Eve and Christmas Day fall on a weekend.
The motoring organisation has named Friday 23rd December as the busiest day to make Christmas journeys, taking into account the regular commuter traffic combined with the Christmas journeys made. An estimated 4 in 10 drivers will drive more than 20 miles on this date, equating to around 12 million cars on the roads.
John Snowling, from the AA, said: “With Christmas falling on a weekend, many people will start their break from Friday Dec 23, but almost a third of drivers will be making their journey on Saturday and more than a fifth will be travelling on Christmas Day to visit friends and family.
“On Friday, it’s likely to be very busy at peak times on the major routes as the Christmas getaway coincides with commuter traffic.
“Check the traffic reports before you leave and try to travel when it’s quieter or, if you have no choice, consider an alternative route to beat the jams.”
For Trusted Dealers top tips on how to drive home safely this Christmas, click here.