Petrol prices edge up in August
Motorists were hit with petrol and diesel price rises in August, despite a price cut at supermarket pumps at the start of the month.
According to the RAC’s latest Fuel Watch report, a litre of unleaded rose by 0.33p to 111.5p over the month of August, while diesel rose by 0.77p to 112.81p per litre.
It takes the average cost of filling up a 55-litre tank car to £61.33 for unleaded, and to £62.05 for diesel.
- Read Moneywise’s tips on how to drive down fuel costs with better driving habits and discounts.
The increase in price has been triggered by the rising cost of oil. The RAC says the price of a barrel rose by $6 (15% or £4.49) to the end of August to $46.28 (£34.70).
Prices have crept up despite supermarkets trimming 2p off the price of a litre of both petrol and diesel on 1 August.
However, RAC fuel spokesman Simon Williams points out that prices are still lower than last year. “It is still the case that the average price of unleaded petrol grew at its slowest rate in more than a year in August, and we are thankfully still a little way off the sorts of average prices we saw earlier in 2015 when petrol hit 117p per litre and diesel nearly 121p per litre.”
Petrol is cheapest in Northern Ireland and priciest in South East
Regionally, the north of England saw the largest average petrol price rise in August, with a litre of petrol up 0.57p to 111.18p. The sharpest diesel price rise was in Yorkshire and Humber - up 0.97p to 112.35p.
Northern Ireland was the only part of the UK that recorded a fall in average fuel prices in August, with a litre of unleaded down by 0.05p to 110.61p (diesel prices didn’t fall in any region). The country also enjoys the lowest prices for both petrol and diesel at 110.61p and 111.69p respectively.
At the other end of the scale the South East remains the most expensive region for both petrol and diesel, with a litre of unleaded on average selling for 111.93p and diesel at 113.22p.
To find the cheapest forecourts in your area, type your postcode into PetrolPrices.com.