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Summer holiday sting in the tail as petrol prices hit new four-year high

by LLB Reporter
17th Aug 18 7:12 am

Petrol pump prices in the UK have hit a new four-year high, stinging holiday drivers on a late summer vacation.

The latest AA Fuel Price Report shows that a weakened pound and higher refining margins have sent the forecourt prices to a new peak for the season. This is despite the price of oil being nearly 10% lower than in June when petrol first reached a four-year high.

Over the weekend, the average pump price of petrol across the UK hit 129.57p a litre and rose to 129.68p by Tuesday. In early June, it had topped out at 129.51p before receding.

The last time petrol cost so much was in the middle of August 2014.

Compared to a month ago, the average cost of petrol is up 1.2p a litre. Diesel, at 132.33p a litre, is 0.7p a litre more expensive than in mid July but not yet at the early summer high of 132.48p in June.

Supermarkets continue to provide a bolt-hole for beleaguered drivers, averaging more than 5.5p a litre cheaper than oil companies for petrol.

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