UK petrol prices hit highest level in almost four years as bank holiday getaway looms
Average cost of petrol reaches 161.6p a litre, while diesel costs average of 183.4p, according to the AA UK petrol prices have hit their highest level since 2022, piling more financial pressure on motorists before the bank holiday weekend. The average cost of petrol has reached 161.6p a litre, while diesel costs an average of 183.4p a litre, according to the AA breakdown company. Continue…
Petrol prices in the UK have soared to their highest level in almost four years, with the average cost of petrol reaching 161.6p per litre and diesel averaging 183.4p. This surge in prices comes as millions of people prepare for a bank holiday getaway, potentially leading to unprecedented traffic on UK roads. The AA reports that the last time petrol prices were this high was in November 2022, during Russia's invasion of Ukraine.
The rise in fuel costs has spurred the UK's competition regulator to step up monitoring of pump prices, aiming to prevent profiteering as the US war with Iran drives up wholesale costs. The Competition and Markets Authority found that many petrol stations were slow to pass on reductions in wholesale energy prices to consumers. Despite the high prices, the AA discovered some areas where drivers could find petrol at about 10p below the national average, highlighting the potential for competitive pricing.
Luke Bosdet of the AA urges motorists to seek out these competitively priced forecourts to avoid paying excessive amounts at the pump.
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