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UK petrol prices rise for second consecutive month

Posted at August 3, 2023 » By : » Categories : News » Comments Off on UK petrol prices rise for second consecutive month

The average price of petrol in the UK rose for the second consecutive month in July.

That’s according to data from RAC Fuel Watch which shows that a litre of unleaded petrol now costs 145p, up by a penny since the start of the month and nearly 2p higher compared to the beginning of June.

The wholesale price of petrol also increased by 6p a litre from 19th July, following the rise in oil prices, prompting retailers to pass the cost on to drivers, resulting in an average price increase of nearly 2p during that time.

In contrast, diesel prices remained stable at 146p (145.84p), ending eight months of falling prices. Filling a tank for a 55-litre family car now costs around £80 for either fuel – £80.21 for diesel and £79.75 for petrol.

RAC fuel spokesman Simon Williams said: “July marks a turning point in the year for fuel prices as diesel stopped falling while petrol recorded its second consecutive monthly increase.

“But more concerning is the fact that oil has gone back up to $85 (£66.8) a barrel, causing wholesale prices to rise significantly.

“While we’re fortunately not in the kind of upward price spiral we experienced last year, it feels like the better times at the pump are over for the time being. If oil producers continue to curb production then bigger forecourt price rises could be on the cards.”

Article source: https://www.energylivenews.com/2023/08/03/petrol-prices-rise-for-second-consecutive-month/

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