Fuel prices rise as oil hits $135 per barrel

Fuel prices have risen dramatically over the last five years

Drivers face further increases in the price of fuel as oil reached another record of $135 per barrel [BBC / Sky News]. In the UK diesel can cost £1.30 a litre [equivalent to $9.67 per US gallon]. Across the pond, American drivers are already complaining at paying more than $4 per gallon, less than £0.55 per litre. The highest price seen in the US was photographed and sent to CNN’s i-report. But even at $5.15 per gallon [£0.69] it is still way below that paid by European motorists. It has been many years since UK prices were that low. In 2003 diesel was around £0.79 per litre, a price that had remained steady for over two years. But less than two years later the price had increased to an average of £0.89 per litre. By the end of 2006 the price at the pump had inched past the one pound mark. But the last six months has seen a dramatic rise with nearly 30 pence being placed on the price of a litre of fuel [CNN].