Lower petrol prices 'at an end', warns RAC
The price of petrol has risen for the first time since July 2015, following an increase in the cost of oil, the RAC has warned.
Following months of lower prices at the pumps, analysis from the motoring group has revealed that the cost of unleaded fuel has now risen by around 3.4p per litre to 105p, adding £1.84 to the cost of filling an average 55-litre car.
Meanwhile, diesel fuel has also risen by 3.7p per litre – despite the fact that the wholesale price of diesel has only risen by 1.5p, and remains 4p lower than petrol.
The RAC believes that retailers are either using lower diesel wholesale costs to subsidise petrol prices, or as a means to increase their profit margin.
However, the AA has suggested that the sudden increase in prices could be a result of the winding down of the recent supermarket fuel price war.
Commenting on the news, RAC spokesman Simon Williams said: ‘The good times for motorists enjoying lower fuel prices had to come to an end at some point, but unfortunately it’s happened with a bit more of a bump than motorists were probably expecting’.