Fuel Prices Rise For Fourth Month

Motorists in the UK have experienced a fourth consecutive month of price rises at the pumps, the latest data from the RAC shows.

The breakdown organisation revealed that the cost of topping up a tank with petrol has climbed by an average of 11p per litre since February, while diesel has increased in cost by 7p per litre. This means that average fuel prices are now just one penny away from the five-year high of 131.58p recorded in October 2018.

Simon Williams, RAC fuel spokesperson, said that it isn’t all bad news for the future though, with May also seeing the price of crude oil fall.

“After suffering a steady flow of daily fuel price increases because of rising wholesale costs we urge retailers to reflect this sudden drop in the price of oil by cutting their prices as soon as possible,” he stated.

Mr Williams also noted that there’s the potential for retailers to cut the cost of diesel by 6p per litre without losing any money, although added that he doesn’t expect them to do so and to instead use this extra money to ‘subsidise’ the headline rates of petrol instead.

If you use commercial van hire in Middlesex for work, you’ll no doubt have noticed the price of topping up your vehicle climbing in recent months too.

A continued increase in fuel prices could also provide an incentive for more drivers to look for alternatives to petrol and diesel-fuelled vehicles. There’s already evidence that younger drivers are changing their car buying habits and opting for newer vehicles they can get on finance rather than ‘old bangers’ that they can pick up for less cash.

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