Motorists hit by 'hellish' petrol price rise in May

World oil prices have increased by 67 per cent since June last year prompting the price of petrol to surge

"The NT Government brought out this petrol app previous year and its made no difference and the main reason why is that we have a duopoly we have basically two companies, Puma and United, running fuel in the Darwin region and there's only one independent that sells fuel cheaper", said independent Member for Nelson Gerry Wood.

The cost of a tank of diesel for a family auto became £3.37 more expensive during May at £72.81.

Figures from the RAC showed that the cost of petrol increased by 6p a litre in May, taking the average price of unleaded from 123.43p to 129.41p.

The average price of diesel saw a slightly greater monthly increase of 6.12p per litre, from 126.27p to 132.39p, which was the second worst rise since the start of 2000.

The cost of a tank of diesel for a family vehicle became £3.37 more expensive during May, with diesal drivers now having to spend £72.81 to fill them up.

Petrol prices were cut for the eighth consecutive day across Delhi, Kolkata, Mumbai and Chennai on Wednesday.

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Simon Williams, the RAC's fuel spokesman, said: "May was a hellish month for motorists".

Spiking oil prices have played a role in the rising petrol prices after oil cartel OPEC and Russian Federation announced they were cutting global production supply levels.

"For many people, there is little alternative to the auto for the majority of journeys they have to make, so it is therefore very hard to avoid feeling the pinch of rising pump prices". The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel.

The average brent crude oil price increased from 70.88USD to 77.00USD per barrel during the period under review.

Going above the $80 mark could see the global demand for oil fall, which could have a devastating impact on the global economy.

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