Since gasoline prices reached record highs in June, the number
is all the more unexpected, and analysts believe it demonstrates
the dairy industry’s rapid inflation. The average price of a pint of
milk has increased by two thirds in the last year, to 86p, or £1.50
per litre. Single pints are being sold at smaller locations of the
larger shops for up to £1.05, or little under £1.85 per litre. From
highs of 191p per litre, gas prices have begun to decline, and in
certain locations, they may currently be as low as 149p at the
pump. Milk prices have soared by two thirds in the past year,
pushing up the average price per pint to 86p – the equivalent
of £1.50 a litre. As supplies ‘stabilise’ after the shortages caused
by the war in Ukraine, petrol prices are tipped to fall a further
15p to 20p. This would take the current average price of petrol at
166p below the average cost for the same amount of milk. It won’t
be the first time milk is dearer than petrol – but that was in the late
1980s when a glut of oil led to the price collapsing. At the time, most
Brits also had milk delivered to the doorstep, meaning prices were
relatively higher than now as they included delivery.