Money digest: today’s need-to-know financial news | 5 April 2016

Two days after a huge leak of more than 11 million documents from Mossack Fonseca, a Panamanian law firm, the newspapers are still dominated by the so-called ‘Panama Papers’ and the revelations about international tax avoidance. Now the Prime Minister has become embroiled in the scandal after details emerged of his late father’s offshore investments. According to The Times, Ian Cameron’s multimillion-pound investment fund paid no British tax for 30 years. The Telegraph reports that that the ‘good times are over’ for motorists after the cost of petrol rose for the first time in eight months. Campaigners are now accusing retailers of ‘unscrupulously fleecing’ motorists and adding ‘needless salt in their wounds’ for instigating a sudden price hike for unleaded as well as diesel, despite wholesale costs remaining stable. A report by the RAC found that a 3.4p per litre rise led to average pump prices of 105p, while around £1.84 was added to the cost of filling up an average 55-litre car with unleaded.