Petrol prices have registered their record level in the UK, triggered by climbing energy prices and the weakness showed by the Pound, adding to the pressures on recession-hit consumers.
The price of petrol at the pump touched an all-time record level of 120.1p a liter on Thursday, surpassing the 119.7p a liter level reached in July 2008, revealed Experian Catalist.
The price rise emerges following the cost of a barrel of oil hitting $85 (£55) level, significantly increased from $70 in February, and from the lows of around $30 at the depths of the recession.
Although, the current oil prices are below the record high of more than $147 of the summer of 2008, in the intervening year and a half the depth of the UK recession and pose to be jittery for the future of the UK economy have triggered the pound to squeeze to just above $1.50 level from $2.
Soaring demand for consumer fuels during the economic meltdown, forced oil refiners to close many refineries - marking that the supply of petrol fell sharply.
"The price will have to go up a bit in the next few weeks just to make things viable for the guy at the end of the line", said Arthur Renshaw, a petrol market analyst at Experian Catalist.












