Duty increases agreed by politicians in the Budget coupled with a rise in the price of crude oil following a deal by some of the world’s biggest oil
producers to curb output, pushed the local cost of a litre of petrol over the £1 mark at the end of the year.
The drop in value of the pound against the dollar since the Brexit referendum has also compounded the situation.
Prices have since increased by more than 3p in the first five days of the year, meaning that the average cost of filling a tank of petrol is now around £10 more expensive than a year ago.
Last month Assistant Chief Minister Philip Ozouf said that the net price of road fuel in Jersey is too high and a 7p per litre cut would be fair to consumers.
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