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Strong pound helping to keep fuel prices stable

23 April, 2014

Average UK petrol pump prices continue to hold below the 130ppl level despite pressure in the oil and wholesale fuel markets, according to the latest AA Fuel Price Report.

It said increases in wholesale prices would have pushed up prices at the pumps by 3ppl to 4ppl had it not been for the pound being worth 7% more against the dollar than this time last year.

Wholesale prices began to rise in late March when US gasoline stockpiles fell significantly at the start of the motoring season. The petrol wholesale price in north-west Europe hit $1,000 a tonne for the first time since September and a subsequent rise in the price of oil, triggered by the Ukraine crisis, is maintaining the upward pressure.

Across the UK, petrol in mid-April averaged 129.74ppl, compared with 129.46ppl a month ago and 136.89ppl this time last year. However, variations across the UK mean average prices have risen above 1130ppl in Northern Ireland, Scotland, the East Midlands and East Anglia. The cheapest petrol is in Yorkshire and the Humber, averaging 129.3ppl, while the most expensive is in Northern Ireland at 130.7ppl.

Diesel has fallen a third of a penny over the past month, averaging 136.26ppl now, compared with 136.59ppl in mid March. London sells the cheapest diesel at 135.8ppl and Scotland the most expensive at 136.9p.

Keywords: AA, prices, wholesale, oil

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Weekly retail fuel prices: 23 March 2020
RegionDieselLPGSuper ULUL
East Midlands123.11133.47120.13
North East121.10133.70118.76
North West121.7164.40131.91118.92
Northern Ireland118.34126.40116.15
South East124.2564.90135.17121.48
South West122.8655.90131.66119.83
West Midlands122.86134.51120.07
Yorkshire & Humber122.1363.90133.53119.07

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