April marked the sixth consecutive month of petrol price rises, the RAC has reported.
The motoring organisation said unleaded petrol went up by 0.89p during last month, ending at an average of 127.19p per litre – its highest price since January 2020.
The price of diesel also increased – rising by 0.62p to 129.73p per litre: a fifth consecutive monthly increase.
This means it now costs £69.95 to fill up a 55-litre family car with petrol, or £71.35 for an equivalent diesel car.
The RAC puts the rising fuel prices down to an increase in the cost of oil, reporting the cost of a barrel went up by $4.82 (£3.46) last month. It said wholesale petrol and diesel prices are also increasing, and warned this could lead to higher prices for motorists in May.
The price rises are linked to a prediction of increased demand for fuel in the summer. Last June, major oil producing nations said they would continue to restrict oil production, and the RAC warned this ‘double whammy’ could create further petrol and diesel price hikes over the coming months.
Demand for oil is outpacing supply
“April marks six months of rising petrol prices and sadly there’s no end in sight as oil is getting perilously close to hitting $70 a barrel – something we haven’t seen for more than two years,” said Simon Williams, RAC fuel spokesperson.
“With lockdown restrictions easing, it’s very frustrating for drivers that they’re now having to contend with even higher fuel prices just at the point where many will be driving a lot more. But unfortunately, it’s the very fact people are driving more that’s causing petrol prices to go up as demand for oil – and in turn, fuel – begins to outpace supply.”
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