Petrol hits highest price in over four years
Motorists have suffered fuel price rises in eight of the last 12 months, new RAC Fuel Watch data reveals.
August saw yet another increase, with the average cost of unleaded petrol going up 1.65p to 130.59p, and diesel increasing by 1.32p to 132.19p.
This latest price rise means the average for both fuels has jumped 13p since this time last year, with petrol now at its highest level since July 2014.
The RAC labelled August yet another bad month for motorists and warned that drivers should be braced for further price hikes on the forecourts.
READ MORE: Higher fuel prices could be ‘new norm’ in 2018 & Petrol pump prices hit three-year high
Roadside cover from £5.29 a month*
• Cheaper than AA Price Promise^
• We get to most breakdowns in 60 mins or less
• Our patrols fix 4/5 breakdowns
*At least 10% of new customers pay this for single-vehicle Roadside (Basic). ^T&Cs apply.
*At least 10% of new customers pay this for single-vehicle Roadside (Basic). ^T&Cs apply.
RAC Fuel Watch data shows the average cost of filling up a 55-litre family car with unleaded now sits at £71.82, an increase of 91p on July and a staggering £7.32 more expensive than this time last year.
It’s an even worse story for those with diesel vehicles, as filling up a 55-litre tank now costs £73.29, an increase of 73p from the same time last month, and £8.19 from August 2017.
The North East of England saw the biggest rise in average petrol prices over the course of August, jumping 1.81p to 129.82, while average diesel costs rose the most in the North West, where prices shot up 1.48p to 133.23p.
The rising costs are down to a combination of global oil prices climbing above $70 a barrel and an increasingly weakened pound, meaning retailers are now having to pay out more for their fuel on the wholesale market.
RAC fuel spokesman Simon Williams said 2018 is rapidly becoming a horrible year for UK motorists.
He said: “Having benefitted from some very low prices two and a half years ago drivers get a nasty shock every time they go to fill up their cars, having to fork out more and more.
“While it’s clearly a tough time for regular motorists unfortunately there is currently no end in sight to the rising cost of fuel.
“With the pound at such a low against the dollar, and fuel being traded in the US currency, it will only take a moderate rise in the price of oil for some eye-wateringly high prices to be seen at the pumps.”
Keep up to date with the latest fuel prices in your area by checking out RAC Fuel Watch and making sure you get the best value for money when filling up your tank.
You might also like
7 surprising things you won’t fail your MOT for
Sometimes you may have an advisory note attached to your MOT. Here are more surprising issues you can still pass your MOT with.
Can I get car insurance abroad? All you need to know
No matter where you are driving around the world, you will need car insurance. Here at the RAC, we can help you work out if you're covered.
What are the most reliable cars available now
The RAC have analysed 2019’s major surveys into vehicle safety and reliability and picked out 10 of the most reliable cars available to UK drivers.
What is the ‘diesel tax’ and what does it mean for diesel owners?
We take a closer look at the taxes, fees and surcharges facing diesel owners amid the battle to clean up Britain's air.
Where are the longest roads in the UK?
Here’s our complete guide to the longest roads in the UK, and what to do if you fancy taking them on. Learn more today with the RAC.
Popular in News
1
EV car batteries last longer than expected, according to new study
2
Vehicle breakdowns where poor roads were to blame rose 15% last year
3
Vaping in cars with children could be banned
4
Graduated driving licences set to be introduced in Northern Ireland
5
Quarter of drivers say they’ve suffered vehicle crime
6
More than 2,500 motorists caught drink-driving three or more times in the last 11 years
7
Government extends home EV charger grant to 2027
8
Four-in-five drivers concerned about dazzling headlights as darker evenings arrive
9
Council pothole claims rise by 90% in three years
10