Home Business NewsBusinessAutomotive News RAC warns petrol and diesel will keep on rising as the price of a barrel of oil is pushing above $120

RAC warns petrol and diesel will keep on rising as the price of a barrel of oil is pushing above $120

by LLB Finance Reporter
31st May 22 12:08 pm

The cost of fuel for motorists keeps hitting record highs daily with prices now hitting above £100 for a tank of fuel for a typical 55-litre car.

The Department for Business, Energy and Industrial Strategy (BEIS) said the average price of a litre of petrol was a record 170.4p on Monday, which is up from 167.6p a week earlier.

Steve Gooding, director of the RAC Foundation, said, “Millions of drivers will now be faced with a bill of £100 or more to fill up their cars.

“While many drivers will sensibly be seeking to maximise their miles per gallon by going easy on the throttle, the risk now is that some might misjudge the difference between running low and running out in the hope that tomorrow’s prices will be lower.

“But we wouldn’t bet against the pain increasing further, with oil pushing up above the 120 US dollars a barrel mark and the wholesale price of petrol still rising.”

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