Petrol prices in the UK have witnessed a relentless climb, marking the fourth consecutive month of increases, with a notable jump of 4.5p per litre last month, as reported by the RAC. Unleaded prices rose from £1.52 to £1.57 in September, pushing the cost of filling a family car to over £86. While higher global oil prices are a major factor, the RAC contends that petrol is also “overpriced.” Independent forecourts, however, argue that their pricing is justified, citing pressures from labor, energy costs, and reduced sales, according to the Petrol Retailers Association representing 64% of UK forecourts.
In the midst of these rising costs, online supermarket Ocado announces a significant reduction in prices for over 500 products in its “Big Price Drop” initiative. Fresh food and household items, particularly cupboard staples like cereal, rice, and sauces, are now available at more affordable prices. This marks the fourth round of price cuts by Ocado since June, bringing the total number of discounted items to over 1,000. The reductions are complemented by the Ocado Price Promise, ensuring customers the best value for their groceries.
On a different front, a group of experts, led by researchers from University College London, emphasises the potential for substantial savings in homelessness-related costs—around £1.5bn annually—through increased investment in social and affordable housing. Proposing a “transformative national housing plan,” the report suggests scrapping the right-to-buy scheme for future social housing in England. An estimated £4bn annual investment over the next five years could result in the construction of 72,000 additional dwellings per year, totalling about 100,000 homes annually across the UK. The proposed mix includes social housing, affordable options, and market-priced homes to address the housing crisis.
Professor Rosalind Raine, co-author of the report, underscores the broad impact of the housing crisis on individuals, families, and communities. She advocates for a comprehensive approach, stating, “It is possible to tackle the holy grail of improving everyone’s lives, with benefits accruing the fastest for the most vulnerable.”
