Customers are paying up to £10 more for fuel than they were a year ago.
The latest data from the RAC’s Fuel Watch scheme shows that on average drivers of petrol cars are paying £8 more for fuel than they would’ve been a year ago, whilst diesel drivers are paying up to £10 more.
According to the motoring organization, fuel prices are the highest they’ve been for 18 months and will only continue to rise. They noted that by the end of December 2016 unleaded petrol cost 117.23p a litre and diesel 119.63p, where it had been 114.24p and 116.56p a litre respectively at the beginning of the month.
Unexpectedly, it’s big supermarkets like Asda, Sainsburys and Morrisons who’ve displayed the biggest price rise in fuel over the last month, despite their reliance on it to attract more customers.
It’s thought that the rapid increase in the cost of fuel has been heavily impacted by rising oil prices and the collapse of the value of the pound sterling against the dollar in the wake of Britain’s decision to leave to the EU back in June 2016.
"We are optimistic that prices will not increase by another 3p a litre in January based on what's going on with oil and wholesale fuel now,” said RAC fuel spokesman Simon Williams. “but if in the months ahead the barrel price was to get nearer to $60 and the pound was to weaken further, then that would be the worst possible combination for motorists.”