Although the price on oil fell from $100 to $80 a barrel, experts forecast a 26% growth in UK early next year. According to Financial News e-source, there is speculation that investors will “stockpile” oil to boost the prices, Financial News informs.

The markets show that the average oil price in UK is set at around £1.10 a liter. The price beats the 15-month records and hits the motorists’ pockets badly.

“However, the UK is in a slightly different situation to many other countries due to the fact that the UK government, through various tax initiatives, takes around 75% of the value of a litre of petrol,” Financial News reads Nov. 17. According to the source, the British government is “under pressure to maintain this level of taxation.”

With the heavy political agenda early next year, people fear more taxation will be imposed on them. “The UK government seems to have no shame when it comes to increasing the tax on petrol in the UK,” the paper concludes.