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Filling up the tank could top £100, predictions state

Posted by Linda Davidson

Drivers and owners of a caravan 12v television are expected to see a large increase in the cost of petrol as predictions show that a full tank could cost over £100 in the next four years.

Ernst & Young ITEM Club forecasters have warned motorists that prices will soar, giving leave to the brief respite of lower fuel costs.

Forecasters suggested that the Asian markets will cause a boom in oil trade and lead to higher costs of filling a tank.

Economist Neil Blake said: "By 2013 prices at the pumps will be eating into household finances once again. Demand from the emerging markets will maintain the pressure on inflation, as will the increase in fuel duty on the home front."

According to Ernst & Young, the rapid rate of inflation for oil will push the price of a litre of unleaded petrol from an average of 134.8p now to 154p by the end of 2015.

Currently, the average price of fuel is134.27p per litre, according to data on petrolprices.co.uk.