Petrol is now at its highest price for nearly eight years after eight straight months of increases at the pumps, says RAC Fuel Watch.
A litre of unleaded rose by 2.7p from 129.52p to 132.19p taking it to a price last seen in October 2013 while diesel went up 2.5p from 131.79p to 134.32p – its most expensive price in two years (134.34p on 10 June 2019).
This means petrol has gone up 18p since 2 November 2020 when a litre cost 114.12p – an average of 2.25p a month – adding £10 to the cost of filling up a 55-litre family car.
The June rise alone added £1.50 to a tank of unleaded with the cost jumping to £72.70. The average cost of a complete fill-up with diesel is now £73.88 – an increase of £1.40 in the month.
The average price of unleaded at the country’s four big supermarkets now stands at 128.17p after going up 3.3p in a month. Diesel is 130.25p after a rise of 2.91p. This makes a tank of supermarket fuel on average £2.20 cheaper than at other forecourts.
June’s pump price rises have been driven by a 10% increase in the cost of oil which saw a barrel go up from $69.37 to $76.12 at the end of the month. This in turn has led to a 3p a litre hike in the wholesale cost of petrol and a 2p jump in diesel (petrol – 102.26p; diesel 101.76p).
In Wales, the average petrol litre is now 131.24p, a 2.67p rise and diesel is 2.6p up to 133.42p.