Petrol and diesel prices hit new record highs - RAC reaction
The RAC's fuel spokesperson reacts to the new record high prices
The RAC's fuel spokesperson reacts to the new record high prices
Rising oil cost should be cushioned by retailer margins returning to more normal levels
Drivers are finally being charged a fairer price at the pumps despite petrol and diesel prices edging up again through January, new data from RAC Fuel Watch shows*.
The increase in the cost of a barrel of oil last month – up from $79 a barrel at the start of January to more than $92 at the end – pushed up wholesale petrol and diesel prices by 4.9p and 3.6p a litre respectively. Fortunately for
Unleaded falls by 2p a litre but RAC data shows price of unleaded should have come down by 12p
Drivers losing out to the tune of £5.5m a day based on current prices
Average retailer margin stands at 19p a litre for petrol and 15p for diesel – making unleaded 12p a litre too expensive and diesel 10p too dear
Petrol 6p a litre too expensive while diesel should come down by 4p
A quarter of drivers say fuel already accounts for a large proportion of their monthly spending
The RAC also provides advice to drivers affected by spiralling fuel costs
RAC Fuel Watch data shows the average price of petrol has topped 146p a litre for the first time ever. Diesel is also at an all-time high of 149.66p.
RAC fuel spokesman Simon Williams said: “The price of petrol has continued to rise since it broke through the previous record high of 142.48p on 24 October, going up 3.5p in nearly three weeks. This means filling up a 55-litre family car with unle
Both petrol and diesel now 30p a litre more expensive than a year ago, adding £16.50 to a fill-up
The record comes just a week after petrol also went above the record price of April 2012