Motorists across the UK are facing a harsh reality as petrol prices continue to surge, with the cost of filling up cars rising by 8p per litre since the beginning of the year. According to Government data, a recent increase of 1.6p per litre over the past week has propelled the average price of petrol at UK forecourts to a five-month high of 148.5p.
This notable uptick marks a stark comparison to the prices recorded at the start of the year, with petrol standing at 140.8p per litre. Such a sharp weekly rise has not been witnessed since August 2023, highlighting the rapid pace at which fuel costs are escalating.
The situation is equally concerning for diesel users, as average pump prices for diesel have climbed to 157.5p, reaching the highest level since November 2023.
Simon Williams, fuel price spokesperson for RAC, commented on the alarming trend, stating, “This year is proving to be another tough one for drivers. Both petrol and diesel are now the most expensive they’ve been since November last year, which is bad for households, businesses, and the economy, especially as we know there is a close link between fuel prices and inflation.
Williams warned of further increases, particularly with heightened tensions in the Middle East impacting oil prices. He cautioned that petrol prices could potentially exceed 150p per litre, while diesel prices are approaching 160p, attributing this surge to retailers’ larger profit margins.
Luke Bosdet, fuel price spokesman for the AA, echoed similar concerns, noting the psychological impact on motorists as prices approach the dreaded 150p-a-litre mark. Bosdet highlighted the additional pressure on petrol prices due to inflationary factors and increased demand, particularly with the looming US motoring season.
As petrol prices continue their upward trajectory, drivers brace themselves for what could be a challenging period ahead, with the early part of the summer anticipated to be particularly tough for UK motorists.
