British Petrol, Diesel Prices Hit Record High

Petrol prices hit an all-time high in Britain on Friday, March 2, 2012. Prices at the pump have reached 137.44 pounds, beating the previous record 137.43 pounds — set in May last year — by 0.01 pounds. Diesel is up to 144.67 pounds — another new record.

Friday's figure means the average family have seen the cost of filling up their car soar by 18 pounds to more than 96 pounds over the past two years. A diesel fill-up has already exceeded the 100-pound mark.

Authorities said pump prices were being pushed up by soaring oil and wholesale prices which, in turn, were driven by instability in the Middle East and "greedy speculators."