British Drivers Warned Fuel Prices Could Reach Record Levels

By PA
PA
PA
September 29, 2021 Updated: September 29, 2021

Drivers are being warned that fuel prices could reach record levels even if the current crisis ends.

The RAC said average prices may hit 143p per litre ($7.30 per gallon) for petrol and 145p per litre ($7.40 per gallon) for diesel in the next few weeks.

That is up from the current level of 135p per litre ($6.89 per gallon) for petrol and 138p per litre ($7.04 per gallon) for diesel.

The highest average price for petrol is 142p per litre ($7.25 per gallon), which was recorded in April 2012.

RAC fuel spokesman Simon Williams said, “The price drivers can expect to pay at the pumps in the coming weeks is being driven by what’s happening with the cost of oil, not by the recent delivery issues that have affected some UK forecourts.

“While the oil price has softened slightly, it’s still very near the $80 a barrel mark and therefore a three-year high.

“We’re monitoring the situation closely but with some analysts predicting the price could hit $90 before the end of the year as demand for oil surges as we come through the pandemic, there is a risk we could see the average price of unleaded fuel hit a new record of around 143p per litre ($7.30 per gallon).

“Diesel would go to 145p [$7.40 per gallon] which is just shy of the record high of 147.93 [$7.55 per gallon] in April 2021.”

Average fuel prices have remained stable despite shortages at filling stations.

Government figures show that the average price of a litre of petrol at UK forecourts increased by just a fraction of 1p to 135p ($6.89 per gallon) on Monday compared with a week earlier.

Typical diesel prices rose from 137p to 138p ($6.99 to $7.04 per gallon) over the same period.

But some filling stations have ramped up prices during the crisis.

Howard Cox, founder of campaign group FairFuelUK, claimed on Monday price rises of between 5p and 10p per litre ($0.26 to $0.51 per gallon) had become “the norm.”

By Neil Lancefield

PA