Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

Rising oil costs 'to result in higher petrol prices'

Wed, 16 Apr 2008
Petrol prices are set to increase due to a rise in the cost of oil - potentially hitting motorists in the pocket.

It is expected that petrol pumps across the UK will soon experience a price hike as the current worldwide cost of oil stands at $112 (£56) per barrel.

At the moment, unleaded petrol costs drivers 107.94p, while diesel can be attained for 117.13p.

Speaking on behalf of the AA, Luke Bosdet stated that the increase is starting to hit drivers.

"For the majority of motorists, they are absorbing the extra cost into their budgets. But for the lower income driver who relies on their car, it's really beginning to bite," said the expert. recently stated that it expects petrol prices to hit £1.50 by the end of 2008 - possibly as soon as September, according to the Guardian.ADNFCR-1081-ID-18554639-ADNFCR


Add a comment


Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £8,930.17

Total cost of credit £1,430.17


48 monthly payments

Apply now

Representative example

Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

CarFinance 247 Limited is acting as an independent credit broker

Universal Square, Devonshire Street North, Manchester, M12 6JH