Whether you stayed up all night to watch the results come in, or you saw the news this morning, you’ll no doubt know by now that Brexit is happening. The referendum resulted in a narrow but clear victory for the “Leave” campaign, and as a result Britain is now taking its first steps towards leaving the EU.
Back in April / May we conducted a poll of our members, which included questions on Brexit voting intentions. If you are one of our members, you may have participated. Thanks to a fantastic response, it turned out to be the biggest poll conducted during the whole referendum campaign, and the first to correctly predict a “Leave” outcome, as reported at the time by The Sun.
We now know it was also extremely representative of the real life outcome, predicting the leave / remain split correctly across all four UK nations to within a couple of percentage points. For example, our poll pointed to England voting 55% in favour of Leave, with the real-life result being 53.4% in favour of Leave.
What does Brexit mean for petrol prices?
There’s no way to sugar-coat the fact that it’s almost inevitable that petrol prices WILL rise in the coming weeks in the aftermath of the referendum result.
The key reason for this is the enormous fall in the value of Sterling – the biggest drop seen since the mid-80s. As oil is purchased in Dollars, it’s immediately become considerably more expensive for Britain to buy. As a result, both The AA and the Petrol Retailers Association are predicting increases of up to three pence per litre, taking effect as soon as next week.
Beyond these almost certain increases, it’s hard to predict what will happen next – because we really do find ourselves in uncharted political and financial territory. Two factors that could restrict further increases are a bounce-back in the value of Sterling, or a fall in the oil price. Crude oil has actually fallen in price today in the wake of the Brexit announcement, but it’s possible this could just turn out to be a temporary market shock.
Obviously we will keep you informed as things develop. In the meantime, one thing that’s certain is that disparities in fuel prices will widen as the increases set in, making it all the more important to shop around. You can find the cheapest fuel wherever you are by using our free service, or by downloading our new apps for Android and iOS:
So it’s the price we have to pay – but there will be benefits, and we were an independent nation before we joined the EU.
I as one who didn’ think the Brexit voters stood a chance and I am age 63 – am appalled at the Gov even letting it happen! All older people have seen their best times, so why did they (all over 65) be allowed to vote?? Tomorrows people stood no chance. We need a re-vote to be honest and quickly! That will show the answer we expected.
Brexit is a tragic fiasco.
We should remain in EU.
True as the saying goes.. it can get worse before it gets better and good comes to those who wait!
I find it annoying that retailers are profiteering on the back of Brexit but then again the price of fuel always increases around holiday time. Companies such as Shell,BP & the supermarkets have already purchased the fuel that is underground.
….I hear the winging comments of the lame minded, the lazy, the takers, the gutless, those that wish to be led by foriegn powers, the followers,….. can they not see the path we were on ?
Our destiny and self rule was being steadily eroded by the Brussels dit-tat machine, which has become too powerful and dictatorial and not always for the common good.
Yes, there has been some good from Great Britains membership of the EU, but unfortunately it has been swamped by the not so good……. and the machine has become hungry for more power, in many more areas than envisaged at a time when the former EEC was created to promote trade between members.
My anger is with the buracrats of the EU, I wanted to be part of Europe, but not at any cost, the cost of the loss of freedom to self governance was too high and they would have seen this correction coming IF the had not been so arrogent.
We might be down, at this point in time, but we are certainly NOT OUT….we are British so lets start acting like it and finish the job of breaking free of these EU shackles !
We were already independent. We are the country that a lot of other countries celebrate their independence from.
Fuel will go up because of the difference between GBP and USD and today 29/06/2016 GBP is only pulling back slightly. I can’t rule out some companies making a quick profit though.
On the back of higher fuel prices and higher import prices, retail prices will go up because the cost of getting goods into the retail environment has also risen.
The UKs credit rating has been downgraded by both Moodys and S&P – this is a further blow that will take some months to be visible however that is for a different forum.
This is not the place to argue about Brexit. There will be some pain, that was expected. We need to accept it and move on, working together as one nation to get the best outcome for an independent UK.
It is worth leaving the EU at any price. When a country cannot even set its own standards for toilet paper, you should know that things have gone too far. I cannot stop smiling at the referendum result and am looking forward to celebrating next year’s Independence Day. The people who voted to remain just because they live with some nice Eastern European neighbours should not be allowed to vote; the issues were MUCH bigger than that. Things WILL get better.
It saddens me to see so much regret towards EU. It’s misplaced. If I can help explain, it has always been about trade but rules need to be in place to protect when we have no trade barriers.
Nobody likes to be dictated on the rules [many rules developed by British are implemented Europe wide] but they are for our protection and in our interest.
It is naive to think that price of petroleum will not increase when the USD – GBP rate dropped 15% – Oil is priced in USD. It is naive to think that this price increase will not be passed to any product that is touched by the motor industry.
It is also naive to think that rules will not be place with and by India or China – or they will ruin you.
You were bamboozeld by Farage with the support of his EU far right colleagues {so much for not wanting EU} with Russian money. Well sticked up.
Nothing to do with National Pride. The Great Britain I know and admire is GREAT because the people are savvy and long sighted. You lot here are not.
I’m old enough to remember what it was like before the EU. I want my EU back!
I love the way people backing leave actually demonstrate an opinion and reason for their opinion, while those who back remain, just say, ‘it’s stupid we should stay in’, no actual intelligent thought as to why !!! From everything I have read, in all forms of media, pre and post brexit, leave appears to be the thinking mans vote, remain is for those who need to be led.
Yes the haft brained and “lame minded” did win, but those that think that we have in some-way won an independence, live in a world that’s one hands-width away from lunacy. Now Instead of being able to work within a commercial framework and business-environment and where we have an equal influence, we will now have the biggest competitor of all services standing at our own front-door. We will now have to compete with the EU and those British companies that have their markets in the EU, will move. In world market will will meet the EU competing against us.
And all those benefits that the Brxiter rave about will soon show that we have no influence on our former Empire any-more, where we could set trade-tariffs and barriers against our competitors, as we wished. Many don’t seem to grasp the fact that our Empire has won it’s independence and they now trade there, where it’s to their advantage and the EU can give them more that we can.
One answer is still unanswered, who are those that will really benefit from leaving the EU ? Because the Brexiter have run their errand.
“There’s no way to sugar-coat the fact that it’s almost inevitable that petrol prices WILL rise in the coming weeks in the aftermath of the referendum result”.
Except, the day before Brexit, diesel was 111 at my local station. Two weeks after brexit, diesel was 109.
Today, at the same station, diesel is 106.
Just as with the stock markets, it seems like Project Fear was wrong about this one, too.
How much are you paying Today? Project fact. Or #truthmongering
The people voted. Suck it up buttercup.
Typical left wing mentality.
Should we just keep having general elections until you achieve your chosen leader???
Should we just keep pulling balls out of the lottery machine until your numbers come out?
It’s people like you who have been holding this country back for years. Britain can now breathe a sigh of relief and begin to think for herself.
You must also understand the sacrifices made by those over the age of 65 what many have endured to give you the right to retain democracy. Your comments are nothing short of communist rhetoric.
So it’s the price we have to pay – but there will be benefits, and we were an independent nation before we joined the EU.
I as one who didn’ think the Brexit voters stood a chance and I am age 63 – am appalled at the Gov even letting it happen! All older people have seen their best times, so why did they (all over 65) be allowed to vote?? Tomorrows people stood no chance. We need a re-vote to be honest and quickly! That will show the answer we expected.
Brexit is a tragic fiasco.
We should remain in EU.
True as the saying goes.. it can get worse before it gets better and good comes to those who wait!
I find it annoying that retailers are profiteering on the back of Brexit but then again the price of fuel always increases around holiday time. Companies such as Shell,BP & the supermarkets have already purchased the fuel that is underground.
….I hear the winging comments of the lame minded, the lazy, the takers, the gutless, those that wish to be led by foriegn powers, the followers,….. can they not see the path we were on ?
Our destiny and self rule was being steadily eroded by the Brussels dit-tat machine, which has become too powerful and dictatorial and not always for the common good.
Yes, there has been some good from Great Britains membership of the EU, but unfortunately it has been swamped by the not so good……. and the machine has become hungry for more power, in many more areas than envisaged at a time when the former EEC was created to promote trade between members.
My anger is with the buracrats of the EU, I wanted to be part of Europe, but not at any cost, the cost of the loss of freedom to self governance was too high and they would have seen this correction coming IF the had not been so arrogent.
We might be down, at this point in time, but we are certainly NOT OUT….we are British so lets start acting like it and finish the job of breaking free of these EU shackles !
We were already independent. We are the country that a lot of other countries celebrate their independence from.
Fuel will go up because of the difference between GBP and USD and today 29/06/2016 GBP is only pulling back slightly. I can’t rule out some companies making a quick profit though.
On the back of higher fuel prices and higher import prices, retail prices will go up because the cost of getting goods into the retail environment has also risen.
The UKs credit rating has been downgraded by both Moodys and S&P – this is a further blow that will take some months to be visible however that is for a different forum.
This is not the place to argue about Brexit. There will be some pain, that was expected. We need to accept it and move on, working together as one nation to get the best outcome for an independent UK.
It is worth leaving the EU at any price. When a country cannot even set its own standards for toilet paper, you should know that things have gone too far. I cannot stop smiling at the referendum result and am looking forward to celebrating next year’s Independence Day. The people who voted to remain just because they live with some nice Eastern European neighbours should not be allowed to vote; the issues were MUCH bigger than that. Things WILL get better.
It saddens me to see so much regret towards EU. It’s misplaced. If I can help explain, it has always been about trade but rules need to be in place to protect when we have no trade barriers.
Nobody likes to be dictated on the rules [many rules developed by British are implemented Europe wide] but they are for our protection and in our interest.
It is naive to think that price of petroleum will not increase when the USD – GBP rate dropped 15% – Oil is priced in USD. It is naive to think that this price increase will not be passed to any product that is touched by the motor industry.
It is also naive to think that rules will not be place with and by India or China – or they will ruin you.
You were bamboozeld by Farage with the support of his EU far right colleagues {so much for not wanting EU} with Russian money. Well sticked up.
Nothing to do with National Pride. The Great Britain I know and admire is GREAT because the people are savvy and long sighted. You lot here are not.
I’m old enough to remember what it was like before the EU. I want my EU back!
I love the way people backing leave actually demonstrate an opinion and reason for their opinion, while those who back remain, just say, ‘it’s stupid we should stay in’, no actual intelligent thought as to why !!! From everything I have read, in all forms of media, pre and post brexit, leave appears to be the thinking mans vote, remain is for those who need to be led.
Yes the haft brained and “lame minded” did win, but those that think that we have in some-way won an independence, live in a world that’s one hands-width away from lunacy. Now Instead of being able to work within a commercial framework and business-environment and where we have an equal influence, we will now have the biggest competitor of all services standing at our own front-door. We will now have to compete with the EU and those British companies that have their markets in the EU, will move. In world market will will meet the EU competing against us.
And all those benefits that the Brxiter rave about will soon show that we have no influence on our former Empire any-more, where we could set trade-tariffs and barriers against our competitors, as we wished. Many don’t seem to grasp the fact that our Empire has won it’s independence and they now trade there, where it’s to their advantage and the EU can give them more that we can.
One answer is still unanswered, who are those that will really benefit from leaving the EU ? Because the Brexiter have run their errand.
“There’s no way to sugar-coat the fact that it’s almost inevitable that petrol prices WILL rise in the coming weeks in the aftermath of the referendum result”.
Except, the day before Brexit, diesel was 111 at my local station. Two weeks after brexit, diesel was 109.
Today, at the same station, diesel is 106.
Just as with the stock markets, it seems like Project Fear was wrong about this one, too.
How much are you paying Today? Project fact. Or #truthmongering
The people voted. Suck it up buttercup.
Typical left wing mentality.
Should we just keep having general elections until you achieve your chosen leader???
Should we just keep pulling balls out of the lottery machine until your numbers come out?
It’s people like you who have been holding this country back for years. Britain can now breathe a sigh of relief and begin to think for herself.
You must also understand the sacrifices made by those over the age of 65 what many have endured to give you the right to retain democracy. Your comments are nothing short of communist rhetoric.