Diesel at 18-month high
The price of petrol has hit its highest level for two years.
Government data shows that on Monday this week motorists were paying an average of 128.7p per litre across the UK, a level not seen since June 2019.
Diesel now costs an average of 132.4p per litre, the highest price since January 2020.
During the first COVID-related lockdown the price of petrol slipped as low as 105p per litre and diesel fell to 112p per litre. At that time – May 2020 – the price of a barrel of Brent crude oil was around $20 compared with more than $70 today.
Steve Gooding, director of the RAC Foundation, said:
“Petrol and diesel pump prices have now risen every week since the middle of last November – almost seven months in total.
“The increase is being driven by demand for oil with Brent Crude now above 70 US dollars a barrel compared with around 20 US dollars a barrel a little over a year ago.
“This in itself mirrors the rise in travel with weekday car traffic in the UK now back to where it was pre-pandemic.
“It looks like people who are looking forward to getting out and about in the good weather we’re having, eagerly awaiting the ending of the remaining Covid restrictions, will have to dig ever deeper into their pockets to fill up the family car if, as seems likely, the cost of forecourt fuel keeps on rising.”
Philip Gomm – Head of External Communications – RAC Foundation
[email protected] | 07711 776448 | 020 7747 3445
Notes to editors:
The RAC Foundation is a transport policy and research organisation that explores the economic, mobility, safety and environmental issues relating to roads and their users.
The Foundation publishes independent and authoritative research with which it promotes informed debate and advocates policy in the interest of the responsible motorist. All the Foundation’s work is available at: www.racfoundation.org