May marked the seventh consecutive month of petrol price rises, new data reveals.
According to the RAC, the average cost of a litre of unleaded petrol went up by 2.24p during the month to 129.27p. The price of diesel fuel also increased by 1.95p to 131.59p. In the seven months since November 2020 – the last time fuel costs fell – the price of petrol has increased by 15.5p.
The RAC says petrol is also 22p a litre more expensive than in May 2020 – the largest 12-monthly increase in 11 years.
Filling a full 55-litre tank for a family car will cost £71.10 for petrol and £72.37 for diesel – around £8 more than before the rises began in November – the RAC added.
“After a weekend which saw millions of cars take to the roads to enjoy a sunny Bank Holiday and a half-term away from home, the price of filling up with petrol has unfortunately reached its highest point in just shy of two years,” said RAC fuel spokesman Simon Williams.
“After seven consecutive months of rising prices, drivers will be wondering if the increases are ever going to end. We’ve now witnessed the biggest petrol price rise in any 12-month period since May 2010, when unleaded rocketed from 99p a year earlier to 121p.”
RAC calls on retailers to cut prices
Williams added: “Looking at the wholesale price of both fuels, in normal circumstances unleaded definitely shouldn’t be continuing to rise with the numbers actually pointing to the potential for a 2p reduction. And diesel is currently 4p too expensive, which suggests retailers are using the saving in the wholesale price to help make up for lower fuel sales over the last year.
“We urge retailers not to take advantage of drivers and fairly reflect what’s happening with wholesale prices on the country’s forecourts.”
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