UK petrol prices hit new all time high – now costs £81.41 to fill 55-litre family car
The average UK petrol price has surpassed 148p for the first time, according to new figures.
Fuel prices are being driven by the wholesale price of energy which is spiking due to tensions between Russia and Ukraine.
The AA has said average petrol prices jumped to 148.02p per litre on Sunday, rising above the previous record high of 147.72p on 21 November last year.
Diesel hit a new record high of 151.57p a litre last Thursday.
Luke Bosdet, the AA’s fuel price spokesman said: “The cost of living crisis has been ratcheted up yet another notch, tightening the vice on family spending when it faces other pressures from impending domestic energy cost and tax increases.”
Reacting to the news, RAC fuel spokesman Simon Williams said: “Petrol has unfortunately hit a frightening new high of 148.02p which takes filling a 55-litre family car to an eye-watering £81.41.
“With the oil price teetering on the brink of $100 a barrel and retailers keen to pass on the increase in wholesale fuel quickly, new records could now be set on a daily basis in the coming weeks.”
“The oil price is rising due to tensions between Russia – the world’s third biggest oil producer – and Ukraine, along with oil production remaining out of kilter with demand as the world emerges from the pandemic.
“As a result drivers in the UK could be in for an even worse ride as pump prices look certain to go up even more.”
Mr Williams said: “On a positive note, retailer margins – which were the reason drivers paid overly high prices in December and January – have now returned to more normal levels of around 7p a litre.”
“We urge the big four supermarkets, which dominate fuel sales, to play fair with drivers and not to make a bad situation on the forecourt any worse by upping their margins again.”
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