Petrol prices rise for first time in eight months

Published by Helen Knapman on 05 April 2016.
Last updated on 05 April 2016

Petrol and diesel prices rose for the first time in March since July 2015, according to the RAC’s Fuel Watch data.

Petrol increased by 3p a litre in March, while diesel rose by 3.7p a litre over the same period.

Rising prices saw both petrol and diesel hit £1.05 a litre on average – adding about £2 to the cost of filling up an average 55 litre car.

 

The price at supermarket pumps, which are traditionally the lowest, also rose. Petrol prices went up by 2p a litre to £1.02 on average, while diesel rose by 3.5p a litre also to £1.02 on average.  

The RAC says the jump in prices is linked to rising oil prices, which went back above $40 a barrel in March for the first time since early December 2015. It comes despite the Chancellor announcing in Budget 2016 that fuel duty is to be frozen for a sixth consecutive year.

RAC fuel spokesman Simon Williams says: "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.

“With an important oil production meeting scheduled for mid-April, more bad news at the pumps may be on the horizon.”

 

To find the cheapest prices in your area, use PetrolPrices.com. As of 31 March – the latest PetrolPrices.com data available – both petrol and diesel prices stood at £1.05 on average.

 

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