The drop in value of sterling since the EU referendum result last year is responsible for 5p of the recent increase in the cost per litre of petrol and diesel according to figures approved by an Oxford academic and endorsed by the former deputy prime minister, Nick Clegg.
The 5p increase works out at £2.50 on a tank of petrol for an average-sized car, or £60 per year for the average motorist – however, it is likely that this price will go up even higher in communities that lack access to local transport infrastructure.
For hauliers, the impact of the increase in fuel prices is far even greater, adding more than £2,200 per year for the average lorry. 85% of everything we buy is carried by truck, so the increase in fuel costs will push shop prices up too.
Commenting on the figures, John Lawson Liberal Democrat Prospective Parliamentary Candidate for Batley & Spen said:
“The government’s own figures show that it is people in rural areas that will pay the price for the Tories reckless Brexit strategy. Hard Brexit is already starting to squeeze the purse strings of people all around the country. Hard working families living in rural Britain depend on their cars to get around, particularly since the Conservatives cut vital bus routes in our communities.
“As the Government push us out of the world’s most lucrative single market down the path towards a hard Brexit, the situation is only going to get worse. A hard Brexit will mean that prices will continue to rise and make life more and more difficult for rural people
“Liberal Democrats will fight against such unnecessary costs affecting the families in our community.”