The cost of a full tank of a car with a standard 55-liter tank of gasoline in Britain for the first time exceeded the £100 mark (about $125), BBC reported.

British car service company RAC estimates that starting Wednesday, with the average price of unleaded gasoline at £1.82 ($2.28) per liter, people will have to pay £100.3 to fill up their cars completely. For cars with diesel engines, the amount will be £103.4 ($129.48), as the average price of diesel in the kingdom has reached £1.88 ($2.35) per liter. The price increase continues despite the British government cutting the fuel surcharge by 5 pence per liter for the period through March 2023.

"Gas station prices are breaking records again and the cost per liter of gasoline is rapidly approaching £2. The Government must act urgently to reduce the record fuel prices which are crippling the lives of those on lower incomes, rural areas and businesses," the RAC said in a statement circulated.

Over the year, the average cost of gasoline in the United Kingdom has risen by 40% and diesel by nearly 43%. Over the past three months, fuel costs have increased by more than 20%, severely affecting inflation. At the end of April, annual U.K. inflation accelerated to 9%, the highest rate in 40 years, and the Bank of England estimates that it will exceed 10% by the end of the year. Earlier, the London-based Center for Economic and Business Research released a report in which it warned that Britain risked facing the biggest drop in living standards since the 1950s.