Brits driven towards financial meltdown by soaring fuel prices

With the price of oil hitting record levels, petrol prices exceeding £1.10 per litre and gas and electricity prices up by 15 per cent, a poll shows two thirds of Brits fear they won't be able to cope if fuel prices continue to rise.

Tim Moss, head of debt at price comparison site moneysupermarket.com, said: "Brits are being stretched to breaking point as our poll of moneysupermarket.com users shows.

"Rising fuel prices are a massive issue right now, in much the same way as they were during the fuel protests of eight years ago. Leading economists have been telling the Government it can afford to drop the price of petrol by nine pence per litre without having any effect on its bottom line. People are really starting to suffer and need help urgently.

"We are powerless to control the amount of tax the Government reaps from petrol, so people who are struggling need to focus on the things they can control. People should start by gathering their paperwork and working out the true scale of their problems. From there they must prioritise bills and pay the essentials such as mortgage or rent and utility bills first. Non-essential items such as magazine subscriptions and pay-TV might have to be sacrificed.

"If you feel unable to sort out your money worries yourself, start by getting some free independent advice from organisations such as the Citizens Advice Bureau or the Consumer Credit Counselling Service."