Ford Fiesta at a filling station

Petrol and diesel prices are edging up warns RAC

Ford Fiesta at a filling stationThe see-saw of filling station fuel pump prices continues, reports the RAC, with both petrol and diesel going up by 1p a litre in July. Depressing news for those filling up for the summer holiday getaway.

Surprisingly, the worst offenders were supermarkets, with all the maker providers putting up prices more than the national average: both petrol and diesel went up by around 1.6p per litre.

The reason for this? Reversing the price cuts they introduced in June, to the frustration of many who celebrated the reductions when they were introduced.

The increase of the supermarkets makes the notoriously expensive motorway service areas seem almost generous; they put petrol up by ‘just’ 1.19p per litre and left diesel almost unchanged. However, they are still charging an eye-watering 146.1p per litre for unleaded and 148.1p for diesel.

Supermarkets, in contrast, are now charging 125.3p a litre for petrol and 128.9p a litre for diesel. The national average is 128.8p and 131.9p for unleaded and diesel respectively.

This means it now costs 59p more to fill the average 55-litre family fuel tank with petrol, and 57p more for diesel – and both fuel bills weigh in at over £70.

‘Rollercoaster’ fuel prices

Fuel filling station

It’s even more depressing when you compare prices to last year: it’s now £7.50 (12 percent) more expensive to fill a family car’s petrol than in summer 2017, and £8.77 pricier (that’s 14 percent) for diesel.

RAC spokesperson Rod Dennis said: “The rollercoaster effect of rising and falling prices that drivers will have witnessed in recent months is certainly in full swing.

“The volatility of the price of a barrel of oil, and in turn wholesale fuel prices, makes it difficult to determine where prices might go next.

“Fortunately for UK drivers, the pound remained stable against the US dollar – which is important as fuel, like oil, is traded in dollars. A weakening pound means it costs more for retailers to buy fuel in, which in turn tends to mean higher prices at the pumps.”

UK fuel prices so far in 2018

  Petrol prices Diesel prices
July ▲ Up ▲ Up
June ▼ Down ▼ Down
May ▲ Up ▲ Up
April ▲ Up ▲ Up
March ▬ Unchanged ▬ Unchanged
February ▼ Down ▼ Down
January ▲ Up ▲ Up