The average price of fuel rose for the fourth month in a row in May, making petrol 11ppl more than it was at the beginning of February and diesel 7p dearer, according to data from RAC Fuel Watch.
It reveals petrol went up 2.34ppl to 130.57ppl in May, while diesel increased 1.74ppl to 135.54ppl. On 3 February a litre of unleaded petrol cost an average of 119.54ppl and diesel was 128.64ppl.
Petrol is currently less than a penny away from its five-year high of 131.58ppl, which was recorded on 15 October 2018. The last time unleaded petrol was more expensive than this was 15 July 2014 when it was 131.61ppl. Diesel hit 136.94ppl on 30 October. Prior to that it was last this high on 10 March 2014 when it was 137.17ppl.
RAC fuel spokesman Simon Williams said: “May was another miserable month for drivers with the fourth straight average price rise of both petrol and diesel taking us near to a five-year high. Luckily though, oil closed out the month 9% lower at $65 which should soon translate to lower prices at the pumps.
“After suffering a steady flow of daily fuel price increases because of rising wholesale costs we urge retailers to reflect this sudden drop in the price of oil by cutting their prices as soon as possible. The supermarkets, who buy fuel more often than smaller retailers due to the large volumes they sell, should be able to do this straightaway to bring some welcome relief to drivers.”
No comments yet