Well, it’s official. The AA reports that the average price per litre of petrol within the UK is now 100.1p, the price of a litre of Diesel, a staggering 103.3p.

This is being caused by a combination effort. Firstly, Gordon Brown’s 2p/litre increase in tax pushed the price close to £1 followed by the Turkish intervention with the Kurds in Northern Iraq driving  the price of a barrel of crude over $96.

The next pre-programmed increase in fuel tax in April from the former chancellor should see the UK fuel price pegged firmly in excess of £1/litre in perpetuity

Naturally, the huge and increasing cost of fuel has a knock-on effect and coupled with poor crops this year, the transportation costs of food are now showing up on the Supermarket Shelves. (Supermarket inflation reputedly running at 10-12% on groceries)

£1+ Fuel looks to be here to stay.