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Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive` School focuses on "curing Ireland`s debt disease"

More pressure on motorists in debt as petrol reaches £1

05/06/2009

The average price of a litre of unleaded petrol yesterday moved back above £1, marking the end of a seven-month period of relatively low prices.

Up until January, petrol prices had been in almost continuous decline since mid-2008, after oil prices fell from around $145 per barrel in July to under $37 in early 2009. In January, the average price of unleaded petrol stood at around 86 pence per litre.

However, since then, recovering oil prices, combined with a weak pound and an increase in fuel duty, have meant that petrol prices have slowly crept back up.

A spokesperson for Debt Advisers Direct said: "A rise of around 14 pence per litre may seem quite small at face value, but it can really add up over the course of a month - and motorists who are already struggling with debt repayments or other costs of living may find this particularly difficult.

"Our advice to anyone struggling with debt is that the sooner they speak to a debt adviser, the sooner they can start improving their financial situation."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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