Get ready for an increase in the price of petrol as the 'era of cheap fuel is over' 5 years ago

Get ready for an increase in the price of petrol as the 'era of cheap fuel is over'

We're sure this the last thing you wanted to hear.

As we learn more and more about the rich and the powerful hoarding tax free fortunes via the Panama Papers leak, the rest of us have to make ends meet and get by the best we can.

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It's never easy balancing the books, but now it seems a new era of increasing petrol prices is upon us. The cost of fuel rose last month for the first time since July 2015, and experts say this is just the start.

An increase of 3.4 pence per litre in average pump prices to 105p is apparently due to oil reaching $40 a barrel for the first time since December. And it won't end there.

RAC spokesperson Simon Williams was the harbinger of doom:

"The good times for motorists enjoying lower fuel prices had to come to an end at some point, but unfortunately it's happened with a bit more of a bump than motorists were probably expecting.

"It looks as though we are heading towards a new norm of the oil price fluctuating between lower and upper limits of 35 US dollars and 55 US dollars a barrel."