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Petrol prices hit car finance consumers hard

Petrol has now hit a record average of 122.14p a litre, which equates to a rise of more than 13p in one year. Car finance buyers have taken the hit like everyone else, but the hike isn’t likely to stop anytime soon.

Petrol has now hit a record average of 122.14p a litre, which equates to a rise of more than 13p in one year. Car finance buyers have taken the hit like everyone else, but the hike isn’t likely to stop anytime soon. The government’s 20% VAT rise is set to increase petrol prices by around 3 pence – just what we need for the New Year, isn’t it?

There has been outrage from head’s of companies like the AA, as Edmund King, the president of the AA said: "It is the lower-income drivers who suffer first and hardest, and that is why the Government should not add further to their misery by increasing both duty and VAT on fuel in the New Year."

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