Petrol prices soar to highest level in nearly two years

You may have noticed petrol prices creeping up in recent times, but how much by? Read on to find out more.

 
Filling up a 55-litre petrol family car has risen about £13 since May 2020.
 
Petrol prices hit their highest figure in nearly two years last month as motorists took to the road to enjoy easing lockdown restrictions.
 
Government figures show that the average cost of a litre of petrol was £1.28 at UK forecourts, the highest since August 2019, according to analysis by the PA news agency.
 
Meanwhile, diesel hit its highest price since January 2020, costing £1.32 per litre.
 
At the height of the pandemic, the global cost of oil plummeted, which led to lows of £1.05 per litre for petrol and £1.12 for diesel in May 2020. However, since then, the cost of filling a 55-litre petrol family car has increased by £13, or £11 for a diesel.
 
Luke Bosdet, the AA’s fuel price spokesman, said: “Oil prices rising back above 70 US dollars a barrel casts a shadow over staycation travel, with petrol prices at their highest for 20 months.
 
“The speed of the price rises at a time when drivers are beginning to travel much longer distances is a post-lockdown shock for many.”
 
RAC fuel spokesman Simon Williams said the timing was ‘pretty frustrating’, adding: “It doesn’t need to be this way.
 
“Given that wholesale petrol prices show there is scope for a 2p cut in prices, retailers really shouldn’t be increasing them.
 
“Diesel drivers have good reason to feel particularly aggrieved too as the wholesale price is very similar to that of petrol.”
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