Petrol prices reach eight-year high

Petrol prices have soared in the last eight months to reach an eight-year high of 132.19p per litre, according to data from RAC Fuel Watch.

Since November 2020, it shows the price of a litre of unleaded has risen by 18p – boosting the price of filling the average car by £10.

Diesel has also reached a two-year high, costing 134.32p per litre on average.

In June alone, a litre of unleaded rose by 2.7p, while diesel went up 2.5p.The rises were driven by a 10% increase in the cost of oil, which now stands at $76.12 per barrel.

RAC fuel spokesman Simon Williams, said: “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.”

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.

Regional pump prices compared: