Motorists hit by further fuel price rise

Motorists hit by further fuel price rise
Three consecutive months of fuel price rises have left motorists having to pay around £5 more to fill up an average family car, new RAC figures show.

Data from RAC Fuel Watch shows that the average price of petrol rose by nearly 2p a litre during May to 110.59p. Diesel prices, meanwhile, have risen by 2.2p per litre to average 110.70p.

That means, the motoring organisation says, that it now costs £60.82 to fill up a typical 55-litre family car with petrol - £4.77 more than it did at the end of February. The cost of refuelling a similar car with diesel is now £60.89, £5.14 more than three months ago.

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Simon Williams, the RAC’s fuel spokesman, says while drivers were able to buy their fuel for under £1 a litre just a few months ago, that was now “sadly starting to seem like a distant memory”.

Looking forwards through the summer, Mr Williams says forecourt fuel charges will hinge on oil prices.

He says: “Now summer’s here what most families want is a period of stability so that making the most of the better weather doesn’t lose some of its shine through higher costs at the pump.

“Much depends on the physical price of oil not rising any further.

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“The oil price teetered around the $50 a barrel mark for the last few days of May, having risen due to the extra demand from the start of the US summer driving season, but it has yet to go higher.

“Fortunately, some of the refinery issues which had led to lower than expected output have been resolved and we now have increased crude production in the Middle East.

"And, with the Organisation of the Petroleum Exporting Countries deciding not to curtail production at its six-monthly meeting in Vienna on Thursday, there is good reason to expect the oil price will not go far above the current level for the time being, but predicting what will happen with oil is far from straightforward.”

The new figures show that UK supermarkets are now charging an average of 107.93p per litre for petrol and 107.59p for diesel.

Overall, motorists in the South East are still paying more for their fuel than drivers in any other region with Northern Ireland remaining the region with the cheapest petrol and diesel, according to RAC Fuel Watch.

Copyright Press Association 2016. Motoring News articles do not reflect the RAC's views unless clearly stated.