Fuel prices up for second consecutive month

New data published by RAC Fuel Watch has revealed that motorists have faced a second month of price rises at the pump in a row.

The motoring organisation says the increase has been spurred by a 25 per cent rise in the cost of oil, which has hit its highest barrel price since last November.

The wholesale cost of petrol rose 2.5 pence per litre whereas diesel increased by 4.6 pence a litre, but the RAC has said that, despite the rises, drivers are still being charged less than they were 12 months ago, and predicted that prices should stabilise, or even fall.

Simon Williams, the RAC's fuel spokesman, says: "The physical or spot price of Brent crude oil saw its largest one-month gain in price in the past 12 months.

"While this has had an adverse impact on the price motorists are paying for petrol and diesel on the forecourt, the world is still producing too much oil which means prices should not rise much further, and may stabilise or even start to fall again.

"It's worth remembering that while prices have gone up in both March and April motorists are still paying 7p per litre less for petrol and 11p per litre less for diesel than they were at this time a year ago which means a tank of unleaded is more than £3 cheaper and diesel is £6 less expensive."

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