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HomeRenewablesAA Fuel Price ReportUK petrol prices exceed 150p

UK petrol prices exceed 150p

Filling up your tank has become a notably pricier affair in the UK over the past month, with costs soaring by more than £3.

The latest AA Fuel Price Report paints a concerning picture for motorists, as diesel prices surpass the 150p-per-litre threshold and petrol follows closely behind.

The surge in wholesale costs for both petrol and diesel, beginning on 17th July, was swiftly mirrored by a surge in pump prices just a week later.

Petrol averaged 143.61p a litre and diesel 144.71p a litre. As of Thursday, those figures have climbed to 149.88p and 151.63p a litre, marking respective increases of 6.27p and 6.92p a litre.

This past week of July saw the cost of filling a standard 55-litre car tank with petrol amounting to £78.99. However, towards the end of the current week, the cost surged to £82.43.

Luke Bosdet, spokesperson for the AA, attributes some of this swift rise to the holiday season.

Bosdet added: “The question then is whether and how many fuel retailers will be as speedy in signing up to the Competition and Markets Authority (CMA)’s voluntary fuel price transparency scheme.

“Although not as comprehensive as the statutory scheme is expected to be, the CMA’s interim scheme could have been useful if it had been up and running over the past month.

“Pump prices at different forecourts don’t go up at the same rate and being able to locate one that lags behind the others takes some of the sting out of surging fuel costs. On the flipside, when wholesale costs are tumbling, being able to spot the fuel stations that are passing on the savings more quickly is handy.”

Energy Live News
Energy Live Newshttps://www.energylivenews.com
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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