Petrol prices have increased by 35 per cent in the last 18 months, according to a survey by the Automobile Association. The survey shows a litre of unleaded petrol now costs an average of 76.8p. This compares with 57p in January. The AA has called on the Government to take immediate action to ease the cost of petrol. "With inflation as a major concern for our economy, there is a clear case for reducing the duty on petrol and bringing the price back down towards last year's levels," said Mr Conor Faughnan, AA public affairs manager.
Out of a litre of petrol priced at 76.8p, the fuel costs just 34p. Duty and VAT at 21 per cent make up the rest.