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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/drivers-facing-new-fuel-price-hikes.jpg"><img class="alignnone size-full" title="Motorists will face further petrol price hikes over the next few days" src="http://londonglossy.com/wp-content/uploads/2010/12/min-drivers-facing-new-fuel-price-hikes.jpg" alt="Motorists will face further petrol price hikes over the next few days"/></a></p>
<p>Motorists already paying record prices for petrol at the pumps will face further hikes over the next few days.</p>
<p>On January 1, a planned Government fuel duty rise will put 0.76p on the price of a litre of petrol and diesel.</p>
<p>Next Tuesday, January 4, the increase in VAT to 20% will mean pump prices go up again.</p>
<p>The AA estimates that the two increases will add around 3.5p to the cost of a litre of petrol and diesel. Its figures show that at present, a litre of petrol costs an average of 123.98p a litre, with diesel at 128.20p a litre. </p>
<p>This time last year petrol was at 107.74p a litre and diesel at 109.46p. The AA has estimated that motorists &#8211; even before the two latest increases &#8211; are spending almost £10 million more a day on petrol than this time a year ago.</p>
<p>Professor Stephen Glaister, director of the RAC Foundation, said: &#8220;It is a bleak mid-winter for motorists with already record petrol prices set to rise significantly with the fuel duty and VAT increases. And that won&#8217;t be the end of it with more increases in fuel duty already scheduled for April.</p>
<p>&#8220;Given that each penny increase in fuel duty raises about an extra £500 million for the Exchequer, it is easy to see why the Chancellor is tempted to hike rates. But if the nation&#8217;s 34 million motorists are pushed too far they will drive less and the Treasury could actually see their tax take fall. At the election there was much talk about a fuel duty stabiliser. Drivers will rightly be wondering what happened to that idea.&#8221;</p>
<p>The Freight Transport Association (FTA) said the January 1 fuel duty rise would leave the freight industry &#8220;with a £95 million hangover&#8221;.</p>
<p>Simon Chapman, the FTA&#8217;s chief economist, added: &#8220;Diesel is not an optional extra for industry. It is essential to keep shops stocked and businesses supplied with materials.</p>
<p>&#8220;Rises in fuel commodity prices have already left operators facing diesel prices 9p per litre higher than a year ago &#8211; adding £3,800 per year to the bill of running an articulated truck. This latest fuel duty increase, together with those previously introduced this year, will add a further £1,200 per year.&#8221;</p>
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