Motorists are being warned that the average price of fuel will hit £2 per litre this summer and some garages will be charging more.
This prediction comes as oil prices are rising and the weakening of the pound vs the US dollar, the RAC said.
On Monday the average price per litre was 175.6p, which was up by 6.6p from 169p the week before, whilst diesel price have increased by 3.7p, government figures show.
RAC fuel spokesman Simon Williams said, “With analysts predicting that oil will average 135 US dollars a barrel for the rest of this year, drivers need to brace themselves for average fuel prices rocketing to £2 a litre, which would mean a fill-up would rise to an unbelievable £110.
“The oil price is rising due to increased demand for fuel across the world as China eases its Covid restrictions and America and Europe go into the peak summer driving season.
“All this combined with a weaker pound at $1.2 means wholesale fuel costs more for retailers to buy.
“The wholesale price of diesel is fast approaching 160p a litre which, when you add 7p retailer margin and 20% VAT, would take the pump price over the £2 mark.
“We strongly urge the Government to take drastic action to help soften the impact for drivers from these never-before-seen pump prices.”
Leave a Comment