Fuel prices RISE AGAIN in the UK as drivers set to be hit with higher charges
GETTY Fuel prices increase in the UK for both petrol and diesel cars
Fuel prices have risen again in the UK for the third consecutive month. New RAC Fuel data revealed that average petrol prices have now risen by 4p per litre since October 2017 and diesel has gone up by 5p a litre, over the same amount of time Unleaded increased 1.34p at the pumps to 122.24p a litre while diesel went up 1.56p to 125.04p a litre. Petrol prices are now at their highest point in the UK since late November 2014 and diesel is at its highest since early December 2014. According to the research, the average price charged by the big four supermarket fuel retailers saw a rise of 2p a litre, taking the average price of a litre of supermarket petrol to 119.76p and diesel to 122.45p.
This higher prices are a result of an increase in the price of oil by two per cent. RAC fuel spokesman Simon Williams said: “The start of 2018 hasn’t been good for motorists as they’ve had to endure their third consecutive monthly increase at the pumps. "Both petrol and diesel are now at their highest points for more than three years which is bound to be making a dent in household budgets.” Filling a 55-litre family car with petrol now costs £67.23 whereas the diesel equivalent is more expensive at £68.77. This is in stark contrast to the cheapest point of 2017 in July when a tank of unleaded was £4.35 cheaper and a diesel fill-up was £5.51 cheaper.
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Simon Williams added: “There is a glimmer of hope that some of the heat in the forecourt price of fuel could cool in February as our current two-week forecast shows reductions of a penny for petrol and two pence for diesel.
The start of 2018 hasn’t been good for motorists RAC fuel spokesman Simon Williams
“Whether this will filter through at the pumps is questionable as retailers are generally loath to pass on wholesale savings when they consider them to be marginal. “While the fuel market is very hard to predict at the best of times there is currently even greater uncertainty as the price of oil went through the $70 a barrel mark in January for the first time in more than three years while sterling has strengthened against the dollar making wholesale fuel cheaper as it’s traded in dollars. “We urge fuel retailers to be fair to motorists and pass on the current savings in the wholesale price of petrol and diesel at the pump.