Petrol is now at its highest price for nearly eight years after eight straight months of increases at the pumps, data from RAC Fuel Watch* reveals.
A litre of unleaded rose by 2.7p from 129.52p to 132.19p taking it to a price last seen in October 2013** while diesel went up 2.5p from 131.79p to 134.32p â€“ its most expensive price in two years (134.34p on 10 June 2019).
This means petrol has gone up 18p since 2 November 2020 when a litre cost 114.12p â€“ an average of 2.25p a month â€“ adding Â£10 to the cost of filling up a 55-litre family car.
The June rise alone added Â£1.50 to a tank of unleaded with the cost jumping to Â£72.70. The average cost of a complete fill-up with diesel is now Â£73.88 â€“ an increase of Â£1.40 in the month.
The average price of unleaded at the countryâ€™s four big supermarkets now stands at 128.17p after going up 3.3p in a month. Diesel is 130.25p after a rise of 2.91p. This makes a tank of supermarket fuel on average Â£2.20 cheaper than at other forecourts.
Juneâ€™s pump price rises have been driven by a 10% increase in the cost of oil which saw a barrel go up from $69.37 to $76.12 at the end of the month. This in turn has led to a 3p a litre hike in the wholesale cost of petrol and a 2p jump in diesel (petrol â€“ 102.26p; diesel 101.76p).
RAC fuel spokesman Simon Williams:
â€œJune proved to be a shocking month for drivers with not just the eighth straight monthly rise at the pumps, but a return to 132p a litre petrol â€“something we havenâ€™t seen since October 2013.
â€œAnd if an 18p a litre hike in cost over eight months isnâ€™t bad enough itâ€™s hard to see the increases coming to an end as the price of oil seems to be going up and up, with $6 being added to a barrel in June alone. Compared a year ago oil is now $35 more expensive. Whatâ€™s even more worrying is that some analysts are predicting an oil deficit by the end of the year, which could mean further relentless price rises in the coming months.
â€œIf oil and, in turn, fuel prices continue to go up the UKâ€™s staycation summer could end up being very expensive for millions of people.
|Yorkshire And The Humber||128.57||131.29||2.72|
|Yorkshire And The Humber||131.21||133.73||2.52|
Find out more about UK petrol and diesel pricesÂ on the RAC website.
*Article Source www.rac.co.uk