The cost of filling up a 55-litre family car now costs over £100 on average, according to recent figures.
Data released by the RAC currently has the average price of unleaded petrol at 183.16p per litre on average.
The cost of filling up diesel is priced at 188.82.
And the prices are set to worsen over the summer, with experts fearing that they could exceed £2 per litre for the first time ever.
The RAC described the cost of filling up a family car as an ‘unfortunate landmark’ as the cost of living crisis deepens across the country.
Simon Williams, the organisation’s fuel spokesperson said: “While fuel prices have been setting new records on a daily basis.
“Households up and down the country may never have expected to see the cost of filling an average-sized family car reach three figures.”
The Mirror has explained the breakdown of the cost of fuel, and what it goes towards.
How petrol prices break down at the pumps
When you pay for petrol or diesel, the cost is made up of lots of different elements - wholesale prices, the profit charged by the retailer, delivery of transporting the fuel, biofuel content, VAT and fuel duty.
For a 55-litre family car, the total charge you're paying for unleaded petrol at 183.16p a litre is:
- Wholesale: 82.63p
- Retailer margin: 2.76p
- Delivery of the fuel: 1.70p
- Biofuel content: 12.59p
- VAT: 30.53p
- Fuel duty: 52.95
Retail price: 183.16p
Tax cost: 83.48p
Tax as % of average retail price: 46%
For a 55-litre family car, the total charge you're paying for diesel at 188.82 a litre is:
- Wholesale: 76.57p
- Retailer margin: 6.67p
- Delivery of the fuel: 2.10p
- Biofuel content: 19.06p
- VAT: 31.47p
- Fuel duty: 52.95
Retail price: 188.82
Tax cost: 84.42p
Tax as % of average retail price: 45%
Unsurprisingly, the biggest bulk of the cost is the wholesale price, which is linked to the rising cost of oil.
Oil prices dipped on Thursday but still hovered near three-month highs, coming in at $123.07 a barrel for Brent crude.
JPMorgan Chase chairman and chief executive officer Jamie Dimon says the price of oil could rise to an eye-watering $175 later this year.
Other costs at the pump include VAT, which is charged at a rate of 20%.
Then there is fuel duty, which was cut by 5p-a-litre in March, from 57.95p per litre to 52.95p - but rising prices have led to outrage over retailers not passing this lower rate on to customers.
"March’s 5p fuel duty cut now looks paltry as wholesale petrol costs have increased by five times that since the Spring Statement," said Mr Williams.
"A further duty cut or a temporary reduction in VAT would go a long way to helping."
AA President Edmund King urged the Chancellor to slash fuel duty by a further 10p.
He said: “Enough is enough. The Government must act urgently to reduce the record fuel prices.”
