Home Business NewsBusinessAutomotive News Petrol prices are seeing the longest streak in rises since 2016

Petrol prices are seeing the longest streak in rises since 2016

by LLB Reporter
29th May 19 1:12 pm

New figures show that motorists are being hit with weekly petrol price increases since 2016.

Over the last 15 consecutive weeks the average UK forecourt petrol prices has risen to more than £1.29 per litre, according to the Department for Business, Energy & Industrial Strategy (BEIS).

The current cost of filling up a typical 55-litre tank of petrol has soared by £5.60 since mid-February.

Steve Gooding, director of motoring research charity the RAC Foundation gave a warning that motorists are unlikely to enjoy any easing of fuel prices in the coming weeks.

Gooding told the Press Association, “We wouldn’t bet on any imminent big price drops.

“Whilst last week there was a marked easing in wholesale petrol and diesel prices, these have nudged up again in the past few days.

“Much depends on what supermarkets – who have a 45% share of the road fuel market, do in terms of promotions and that can be as much about driving footfall in their stores as the underlying cost of fuel.”

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