Summer holiday plans have been dealt a blow as the AA warns motorists to brace for higher prices at the pump. The motoring group said the cost of petrol increased on Monday, with prices jumping from 150.7p per litre to 151.0p.
Diesel also costs more this week, with average prices increasing from 164.8p to 164.9p. The AA has warned that the slight uptick in pump prices is due to a 3p-to-4p-per-litre rise in wholesale petrol costs since the last week of June. Wholesale diesel costs have jumped by more than 6p per litre, with experts blaming the renewed US-Iran conflict for leading to higher oil prices.
Luke Bosdet, The AA’s spokesman on pump prices, said: “Despite more than a penny coming off the average price of petrol over the past fortnight, drivers across the UK now face new increases heading towards the start of the summer holidays.
“And it’s always in the back of people’s minds that current pump prices would be 6p a litre worse were it not for the fuel duty cut (5p fuel duty + 1p VAT).”
AA research shows that just two regions – the North East and Yorkshire and Humberside – are selling petrol at prices below the average of 150p per litre.
Fuel prices are much higher than last summer, an analysis by the RAC shows, with drivers set to pay £8.90 more to fill a 55-litre family-sized car with petrol.
Despite this, motorists are undeterred, with an estimated 14.1 million drivers set to hit the road over the next weekend.
Fuel pump costs soared back in February, with petrol prices hitting 158p per litre in April, and diesel at 191p per litre.
Data from the RAC Fuel Watch shows that fuel costs remain high, with petrol 18.1p per litre higher than in February and diesel 22.3p higher.