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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/petrol-prices-rising-at-record-rate.jpg"><img class="alignnone size-full" title="The price of petrol is rising at the highest rate for 10 years" src="http://londonglossy.com/wp-content/uploads/2011/01/min-petrol-prices-rising-at-record-rate.jpg" alt="The price of petrol is rising at the highest rate for 10 years"/></a></p>
<p>The price of petrol is rising at the highest rate for 10 years.</p>
<p>Average prices between mid-December and the middle of this month increased from 122.14p per litre to a new record of 128.27p, the AA said.</p>
<p>The previous highest monthly petrol price rise in the last decade was the 5.6p-a-litre increase between May and June 2008.</p>
<p>Diesel went up from an average of 126.19p a litre in mid-December to 132.75p a litre in mid-January.</p>
<p>This 6.56p increase in diesel was just short of the highest previous-decade monthly increase of 6.8p a litre set in July 2008.</p>
<p>The AA said the 0.76p-a-litre increase in fuel duty at the beginning of this month and the VAT rise to 20%, adding around 2.5p more to the pump price, accounted for the lion&#8217;s share of the latest increases.</p>
<p>An increase of around 5% in wholesale costs, driven by oil prices surging past 90 dollars a barrel, had ensured that every day was a record for petrol prices since December 10.</p>
<p>Compared to a year ago, petrol now costs 16.3p a litre more and diesel 18.98p a litre more. Filling a typical 50-litre fuel tank has risen £8.15 for petrol and £9.49 for diesel. For a two-car family, the monthly cost of petrol has increased by £34.61.</p>
<p>Following Government figures showing a 3.4% fall in petrol sales in the period July-September 2010 compared to the same period in 2009, a comparison of retail petrol sales between January and September 2010 with the same period in 2007 showed a 2.22 billion litre, or 12.8%, decline. With sales for petrol and diesel combined, UK retailers in the first nine months of 2010 sold 1.27 billion fewer litres of fuel compared to the boom time in 2007.</p>
<p>At present, the cheapest petrol is to be found in Yorkshire and Humberside (averaging 127.3p a litre), while the dearest is in Northern Ireland (129.1p).</p>
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