Petrol prices have risen 8p so far in 2024, including by 1.6p in the last week, bringing average prices to 148.5p.
New Government data shows how the cost to fill up has been steadily rising since the start of the year when the average price was 140.8p.
The prices have been put down to heightened tensions in the Middle East and retailers increasing their profit margins, the latter being something the RAC doesn't believe to be fair. “Both petrol and diesel are now the most expensive they’ve been since November last year, which is bad for households, businesses and the economy, especially as we know there is a close link between fuel prices and inflation.
“While diesel is getting close to 160p, this is purely down to retailers taking much bigger margins as there’s only been a few pence between the wholesale prices of both fuels since mid-March.
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