Rise
UK motorists warned of fuel price rise
The AA has today confirmed that it expects UK fuel prices to increase over the next few months and break the previous record high of 121.61p a litre figure set in May this year. A five pence rise from the 117.7p a litre price at the moment would take the cost of fuel to new levels due to a mixture of increased demand, a rise in the oil price together with higher VAT payments coming in next year. All in all, it seems that yet again UK motorists are to be hit in the pocket at a time when few can afford the extra charge.
The cost of fuel in the UK is phenomenal compared to the vast majority of other countries around the world although the bulk of what you pay at the pumps is taken by the UK government in tax receipts. Even though the coalition authorities would prefer to reduce the price of fuel and bring motorists back on board, the government needs as much tax income as possible in the short to medium term to fund public services.
Co-op reveals profits rise but has concerns for the future
The Co-operative Group has today issued half year results which show a 17% rise in profits from £221 million over the corresponding period last year up to £260 million this year. There was a 12.6% increase in profits from its supermarket division even though there were distribution issues with regards to the integration of the Somerfield acquisition. However, it is the company’s comments about the immediate future of the UK economy which have caught the eye.
The company itself has expanded not only the supermarket division but also its financial services operation which has given the Co-operative Group a larger base in the UK. However, the downturn in the UK economy is hitting all areas of UK business and no one company is immune from the financial difficulties being felt by many consumers in the UK. As
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