Fuel Prices Hit 4 Year High
6th September 2018
According to RAC Fuel Watch, motorists have had to endure rising petrol and diesel prices for 8 out of the last 12 months.
Another increase in August saw the average cost of petrol going from 1.65p to 130.59p, along with diesel increase by 1.32p to 132.19p. Since this time last year fuel has increased by 13p in price, with prices the highest they have ever been since July 2014.
More increases on the way
But that's not all - the RAC has warned motorist to expect another hike on the forecourt this month.
Data from RAC Fuel Watch shows that the average cost of filling up a 55 litre family car with unleaded petrol comes in at £71.82, an astonishing £7.32 more expensive than the same time last year.
And diesel vehicle drivers are even worse off, with a 55 litre tank coming in at £73.29, a whopping £8.19 increase compared to August 2017.
But why the rising costs?
A combination of global oil prices and a weakened pound are largely to blame, which means retailers have to pay more on the wholesale market.
What can I do?
Think about driving more economically, and follow our top tips for saving fuel here.<< Back to Blog