MOSCOW (Pakistan Point News / Sputnik - 24th September, 2022) Drivers in the United Kingdom are paying an extra five Pounds ($5.43) per tank due to the fall in the value of the British national Currency, the automobile Association (AA) said Saturday.
Global crude prices slid to their mid-February levels this week but gasoline prices in the UK saw little change after the new UK finance minister announced a batch of tax cuts, sending the pound to its 37-year low of $1.09.
Automobile Association fuel price spokesman Luke Bosdet said two-thirds of that higher gas cost was down to the weakness of the pound against the Dollar.
"Oil and fuel on commodity markets are traded in Dollars, which makes the weaker pound very bad news for motorists," he was quoted as saying by Sky News.
AA estimates that the pump price would be at least nine pence per liter cheaper if the pound maintained its mid-February value of $1.35. The value difference is adding around 4.95 pounds to the cost of filling a 55-liter family vehicle.
