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Petrol price at highest point in nearly eight years after yet another month of increases

Petrol price at highest point in nearly eight years after yet another month of increases

Petrol is now at its highest price for nearly eight years after eight straight months of increases at the pumps, data from RAC Fuel Watch* reveals.

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).

RAC fuel spokesman Simon Williams:

“June proved to be a shocking month for drivers with not just the eighth straight monthly rise at the pumps, but a return to 132p a litre petrol –something we haven’t seen since October 2013.

“And if an 18p a litre hike in cost over eight months isn’t bad enough it’s hard to see the increases coming to an end as the price of oil seems to be going up and up, with $6 being added to a barrel in June alone. Compared a year ago oil is now $35 more expensive. What’s even more worrying is that some analysts are predicting an oil deficit by the end of the year, which could mean further relentless price rises in the coming months.

“If oil and, in turn, fuel prices continue to go up the UK’s staycation summer could end up being very expensive for millions of people.

 

Unleaded

01/06/2021

30/06/2021

Change

UK average

129.52

132.19

2.67

East

129.91

132.60

2.69

East Midlands

128.96

131.46

2.5

London

130.88

133.53

2.65

North East

128.37

130.90

2.53

North West

128.94

131.83

2.89

Northern Ireland

125.04

128.52

3.48

Scotland

129.15

132.18

3.03

South East

130.51

133.21

2.7

South West

129.88

132.57

2.69

Wales

128.57

131.24

2.67

West Midlands

129.45

131.99

2.54

Yorkshire And The Humber

128.57

131.29

2.72

 

Diesel

01/06/2021

30/06/2021

Change

UK average

131.79

134.32

2.53

East

132.54

134.96

2.42

East Midlands

131.51

134.07

2.56

London

133.10

135.35

2.25

North East

130.44

133.02

2.58

North West

131.21

133.99

2.78

Northern Ireland

127.53

130.21

2.68

Scotland

131.43

134.22

2.79

South East

132.99

135.48

2.49

South West

132.11

134.70

2.59

Wales

130.82

133.42

2.6

West Midlands

131.70

134.32

2.62

Yorkshire And The Humber

131.21

133.73

2.52

Find out more about UK petrol and diesel prices on the RAC website.

*Article Source www.rac.co.uk

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