Car insurance holders face new hikes

Monday, 16 January 2012

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Affordable car insurance is set to become more important than ever for Britain's motorists, as the wholesale cost of petrol has risen again.

This is according to figures from RMI, which represents almost 6,000 independently-owned petrol stations up and down the UK.

The group found that its fuel price monitoring system, entitled "BIG OIL", has witnessed the steepest and fastest ever rise in wholesale costs across the festive season.

From December 19th until January 5th, the cost of diesel rose by almost 4.5p per litre, while unleaded petrol went up by as much as 5p per litre, before the inclusion of 20 per cent VAT.

Brian Madderson, chairman of RMI Petrol, said: "This is a very worrying development but not entirely unexpected."
Due to the rapid increase of fuel prices, retailers have hardly had time to react over the holidays, meaning that many didn't make any significant increases to their pump prices.

Copyright Baubridge Ltd.

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