Drivers suffer biggest monthly fuel price rises in five months

The sensible price of petrol rose by 4p a litre in February whereas diesel shot up by virtually 5p in the biggest monthly increases in five months, information from RAC Fuel Observe* reveals.

Unleaded went up from 140.75p before everything of the month to 144.76p by the shut, adding more than £2 to the price of a fleshy tank (£77.41 to £seventy nine.62). Diesel jumped from 148.53p to 153.22p (4.7p) increasing the price of filling up an sensible 55-litre family automobile by £2.60 to £84.27.

The hikes had been pushed by the price of oil breaking thru the $80 a barrel price on 8 February and staying there for the remainder of the month. This, combined with the pound most effective being price $1.26 meant retailers had to pay more for fuel on the wholesale market as – a lot like oil – fuel is traded in greenbacks.

RAC Fuel Observe information furthermore reveals that drivers in Northern Eire are quiet getting a a lot greater deal on the pumps, with unleaded being bought 5.6p more cost-effective and diesel 4.6p more cost-effective (139.19p for petrol and 148.62p for diesel).

RAC diagnosis of prices from the Govt’s voluntary inaugurate information map on 29 February reveals petrol is sincere below 2p (1.8p) more cost-effective when bought at certainly among the nation’s immense four supermarkets (143p v 144.76p) and diesel is most effective a penny more cost-effective (152.1p v 153.22p). It furthermore highlights that there is an 18p-per-litre distinction between the supermarket forecourts selling the bottom and highest priced unleaded, each of that are Asda sites. The bottom price changed into once 136.7p at its sites in Middleton, Leeds, and Ballyclare, north of Belfast in Northern Eire, and primarily the most costly changed into once 154.9p at Parkgate Avenue in Chester.

For diesel, the gap between the least costly and most pricey supermarket forecourts is increased at 21p. Tesco equipped drivers the bottom priced at 142.9p at Banbridge in Northern Eire and Asda had the dearest at 163.9p, again at Parkgate Avenue in Chester.

RAC fuel spokesman Simon Williams mentioned: “Our information reveals that in February, drivers endured the very perfect monthly sensible fuel price increases since September 2023. Diesel’s 4.7p upward thrust changed into once the 14^thbiggest and the 4p that went on to petrol changed into once the 17^th biggest increase since the beginning of the century.

“What’s in particular galling is the continuing distinction in price between Northern Eire and the remainder of the UK. On sensible fuel is 5p more cost-effective there, with immense retailers appearing chuffed to purpose on thinner margins per litre.

“Looking at sensible margins at some stage in your complete of the UK, retailers are currently taking around 10p a litre on sensible at some stage in each petrol and diesel. The supermarkets in particular maintain now noticeably upped their margins to 8p a litre when in contrast to 6p in 2019. Fortunately for drivers, that is decrease than the final two years when it changed into once around 9.5p.

“When analysing the supermarkets’ prices thru the Competition and Markets Authority inaugurate information map, it is furthermore very obvious there are some immense variations between the least costly and most pricey prices charged for every petrol and diesel. Frighteningly, on the terminate of February there changed into once an 18p distinction between the nation’s least costly supermarket unleaded and the dearest, and for diesel it changed into once 21p. To set this into a context, it technique the price of filling a family-sized automobile would possibly per chance even be as a lot as £10 more costly in one half of the nation than one other. It’s critical to maintain in mind that is the very same product being charged at vastly different prices primarily based fully mostly sincere on converse.

“We hope that the eventual introduction of the monitoring body truly helpful by the Competition and Markets Authority would possibly per chance even support to bring an terminate to this postcode lottery that treats drivers so unfairly.”

Motorists looking to place money on their own-u.s.can maintain to quiet birth using the fuel finder characteristic in the free myRAC app. The app would possibly per chance even be downloaded for free from the App Retailer or Google Play.

Up to nine searches a day would possibly per chance even be made over a two, five or 10-mile radius, with every giving the five least costly prices.

The catch page has more information in regards to the sensible price of petrol and diesel on the immense four supermarkets and at motorway services. It furthermore parts graphs showing sensible prices since 2000 in addition to a day after day financial breakdown of the price of a litre of petrol and diesel.

Regional pump prices