Petrol prices at highest level in eight years, says AA

Gasoline prices have risen to their highest level in nearly eight years, the AA says.

The average price is 133 pence per litre, it says, almost 20 pence higher than in November. Diesel prices are also rising.

The rise comes as families fill up the tank for summer vacations. Rival car company the RAC predicts an exceptionally busy summer on UK roads.

The rise in fuel costs comes after a steady rise in oil prices and has heightened fears of rising inflation.

The price of oil has risen from about $43 a barrel in the past year to over $70 today.

Figures released this week showed inflation in the UK reached 2.5% in the year to June, the highest in nearly three years, with rising fuel prices being one of the drivers of the increase.

The last time UK drivers had to deal with fuel prices this high was in early October 2013.

“Rising pump prices continue to weigh on household and other consumer spending,” said Luke Bosdet, the AA’s spokesman for fuel prices.

“A family with two petrol cars would have spent around £230 on fuel in November if Covid lockdowns hadn’t discouraged travel. Now the monthly cost of refueling their vehicles is over £265.”

The RAC says drivers are planning an estimated 29 million holidays in the UK this year, of which 16 million are in school holidays alone.

The survey of 2,500 drivers shows that the number of people making regular holiday bookings in the UK has risen by 20% since April, with RAC figures suggesting that the West Country – Cornwall, Devon, Dorset and Somerset – will have the highest number of holidaymakers received.

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