Why filling up the average family car in the UK has topped £100

theguardian.com:

The cost of filling an average family car with petrol has topped £100 on what has been labelled a “truly dark” day for drivers on Thursday. A multitude of factors have combined to leave Britons facing pain at the pumps.

The average cost of petrol is now 182.3p a litre, while diesel hit 188.1p on Wednesday. Some forecourts are already selling petrol for more than £2 a litre. Fuel prices have risen this year as the cost of crude oil, used to produce petrol and diesel, has jumped.

The price of crude collapsed during the pandemic as travel restrictions punctured demand. That demand has returned as the world gets back on the move. Russia’s invasion of Ukraine has exacerbated the situation as various western countries shun Russian oil. A fall in the value of the pound against the dollar in the past 12 months has also pushed up wholesale costs for petrol retailers in the UK.

The finger pointing has begun as consumers, already battling rising energy and food bills face soaring prices at the pump. The government has accused some fuel retailers of profiteering and not passing on March’s 5p cut in fuel duty. Retailers in turn have blamed rising wholesale costs.

Howard Cox, the founder of the FairFuelUK campaign, blamed oil refineries for not passing on a fall in the price of crude oil since the highs during the early days of the war in Ukraine. “The refineries are awash with cash and taking big margins,” Cox said.

The motoring groups have even turned on each other – the AA has blamed “reckless speculation” by the RAC for rising fuel prices. The RAC denied this and has called for a cut to fuel duty or VAT.

The price of oil has eased from the highs of about $140 a barrel at the beginning of the invasion to about $120 as nations have sought