Petrol Prices hit two year high

The latest Government figures reveal that UK petrol prices have climbed to their highest for over two years.

Department for Business, Energy and Industrial Strategy figures say the average price is around £1.18 a litre, with comparison site PetrolPrices.com showing a high price cost of £1.35 in some areas.

The cost of diesel has reached its highest since January 2015 and now an averages £1.21 a litre.

The rise in oil prices is supported by reports OPEC was starting to cut output and expectations of strong demand growth in China, but rising US crude inventories reinforced concerns over plentiful global supplies.

Brent crude oil was up 25 cents at $55.35 a barrel by 0930 GMT. U.S. crude CLc1 was up 5 cents at $52.30.

Howard Cox, founder of the FairFuelUK campaign, warned that many motorists are being forced to pay even higher prices.

Cox told the Press Association: “The reported average figures hide the reality that hard-working Brits are paying even more in rural areas and where supermarkets are few and far between.”