UK Fuel Costs Expected To Hit Record High

Motorists face further anguish today as petrol costs hit a whole new record high of £1.22 a litre, as outlined by the AA.

Following a 7 days of traffic pandemonium with the Big Freeze, the expense of refueling at the pumps is ready to surge – adding roughly £25 towards the month-to-month bill of a two-car family.

It arrives as individuals throughout Britain fight their way with larger food and utility bills.

Rising Oil and wholesale fuel costs – together with claimed profiteering from oil companies and suppliers – are held responsible for the increases in the price of petrol. Prices are likely to rise even higher in the New Year when the VAT rate goes up another 2.5% – to 20%.

The AA has predicted highs of up to 124p in the coming weeks.

‘It is highly likely that UK average petrol prices will set a new record on Friday,’ said a spokesman.

AA President Edmund King said: ‘In the past week, we have seen the average price of petrol shoot up 1.7p a litre across the UK and diesel rise 1.61p.

‘It comes at a particularly bad time for drivers who have struggled with appalling winter weather and often seen their fuel drain away while stuck in snow-bound traffic jams.

‘Although the wholesale price of petrol has risen sharply in the past fortnight, there is a growing feeling of helplessness among drivers with winter travel disruption and ever-rising fuel costs.

‘If current prices persist, the new year increase in fuel duty and VAT will push petrol prices up to 124p a litre.’ He added: ‘Our only hope is that either oil and fuel markets settle back down or the pound strengthens against the dollar. Until then, it is an even more uncomfortable ride for families trying to keep their cars on the road.’

ITV Set To Be Real Winner In X Factor Final

UK terrestrial TV channel ITV are all set for what will be the most lucrative British TV show of all time with their weekend showing of the X Factor Final.

The channel are expecting to rake in £25m in advertising revenue over Saturday and Sunday night as the hugely popular singing show draws to a climax with four contestants battling it out for the title. Young rapper Cher Lloyd, smooth crooner Matt Cardle, Liverpool soulstress Rebecca Ferguson and teenage boyband One Direction are all in the running for a £1m record label prize and a massive catapult into the music business.

According to ITV figures, this weekend’s X Factor could earn £10,000 per second as 30-second commercial break slots sell for as much as £300,000. The show is expected to be the most-watched TV event of the year with over 20million viewers predicted to watch the Sunday night results.
And The Guardian reports that ITV has increased its usual allocation of five commercial breaks within each show to six to maximise its revenue potential. The paper maintains that advertisers are paying up to £250,000 for slots on the Sunday night show, and around £200,000 on Saturday.

As well as advertising cash, the money will also roll in from those phoning in to vote for their favourite act. The X Factor’s money-spinning ability has soared and it is expected to smash through the £100million advertising revenue mark for the first time this year.

Advertisers thought to have been in talks about taking up the slots in the final include Microsoft, BSkyB, Pizza Hut and Hallmark. The X Factor final is now regarded as the British version of the U.S. Superbowl in that it is the TV event of the year for advertisers.