Petrol prices rise by more than 10 pence a liter in a month Car News

The price of petrol rose by more than 10 pence a liter in May, despite the 5 pence a liter fuel tax cut introduced by the government at the end of March.

The price per liter of unleaded fell from 162.87p at the start of the month to 174.02p at the end, according to data from the RAC’s Fuel Watch.

It is the second biggest rise on record, following a rise in March when a liter of petrol jumped 11.61p from 151.67p to 163.28p.

Diesel prices also hit new highs in May, with a liter up to 183p, up more than 5p.

This brought the cost of the average tank of diesel above £100 for the first time, the data showed. A full tank of petrol also reached a record cost of £95.

The RAC said that since Russia invaded Ukraine on February 24 the price of petrol has risen by 24p per liter and diesel by 30p per litre.

“Both of these figures would have been even higher had the government not reduced fuel taxes,” said RAC spokesman Simon Williams.

The increases were driven by the rise in the wholesale price of oil, which rose from $106.07 (£85.07) a barrel to an end-May high of $124.45 (£99.79), a 17% increase.

Williams added: “While it’s hard to imagine prices getting any worse, the wholesale price of petrol has now risen above diesel, which heralds even more bad news at the pumps in the weeks ahead. coming.”

Drivers of electric vehicles have also been significantly affected by soaring energy costs. Earlier this week it was revealed that the cost of running an ultra-fast EV charger had risen by almost 50% in just eight months, an increase of 16.76 pence per kWh.

Additionally, the price of using a fast charger has increased by a fifth, from £18.81 to £22.81.

More about this article: Read More
This notice was published: 2022-06-01 23:01:24

Leave a Reply

Your email address will not be published. Required fields are marked *