Motorists’ woes mount as fuel price increases continued unabated in December 2017.
According to motoring organisation the RAC, the average price of unleaded petrol increased for the second month running – by half a penny from 120.66p to 121.11p (+0.45p). This means a litre of petrol is now at its highest average price since December 2014.
The average cost of diesel also rose in December 2017 from 123.06p to 123.46p (+0.4p).
Both fuel types were at their nadir for 2017 prices in July, at 114.33p per litre for petrol and 115.02p for diesel. This means that an average 55 litre tank of petrol for a family car now costs £3.73 more than it did in the middle of last year.
Motorists might want to consider buying fuel from supermarkets in future, as the average cost of petrol and diesel is several pence below that of the national average. At the big four supermarkets – Asda, Morrisons, Sainsbury’s, and Tesco - a litre of petrol costs 117.84p on average, while a litre of diesel stands at 120.34p.
Check for the cheapest pump prices in your area using comparison website PetrolPrices.com.
‘It’s hard to see pump prices getting much cheaper’
RAC fuel spokesman, Simon Williams, comments: “Sadly, December was the month oil reached its highest point for over two and a half years – something which motorists are now feeling the effect of at the pumps.
“On a brighter note, the shutdown of the North Sea Forties pipeline did not cause the price of oil to increase as many expected. It had been feared this would lead to petrol and diesel going up in the run-up to Christmas, but luckily for drivers global oil production was not negatively affected as a result.
“It’s hard to see pump prices getting much cheaper in the early part of 2018. Unfortunately, the good times of lower cost fuel appear to be over and it’s probably now far more likely that we will see prices going up as OPEC’s [the Organisation of the Petroleum Exporting Countries] oil production cuts are starting to have the desired effect of reducing the global oil glut and pushing the barrel price higher.”