UK Petrol Hits 158.5p a Litre as Oil Stays Above $100
Updated
Updated · The Independent · May 19
UK Petrol Hits 158.5p a Litre as Oil Stays Above $100
4 articles · Updated · The Independent · May 19
158.5p a litre is now the average UK petrol price, the highest since December 2022 and above the 158.3p peak reached on April 15.
Oil above $100 a barrel since late April has reignited pump-price increases after a brief early-May dip, with the RAC warning unleaded could climb to at least 160p in coming weeks.
£2.9 billion is the extra amount motorists have paid since the Middle East conflict began on February 28, based on average daily price rises and last year's fuel use.
Diesel has fallen nearly 6p to 185.92p a litre, but the RAC says forecourt prices should be lower still and urged retailers to pass on wholesale savings.
Rachel Reeves is expected to drop plans for a fuel-duty increase from September, easing pressure as higher fuel costs hit drivers ahead of the bank holiday.
Wholesale diesel costs have plummeted, so why are UK drivers still paying near-record prices at the pump?
As soaring fuel costs drive inflation, are UK households facing another punishing interest rate hike this year?
With fuel duty cuts a temporary fix, what is the UK's real plan to end its costly reliance on foreign oil?