Fuel prices hit three-year high

Fuel prices hit three-year high

Monthly rises in November show fuel prices have risen by 2p a litre

The average cost of filling your tank with petrol or diesel has reached a three-year high according to new figures.

Fuel prices for both unleaded and diesel increased by more than 2p a litre in November, according to RAC Fuel Watch data.

The wholesale cost of a barrel of oil remained over the $60 mark for the entire month of November, which is why we’ve seen no downward shift in pump patterns.

Regional data also shows that some parts of the country have been harder hit than others.

Astonishingly, filling up a tank of diesel is currently £11.65 more expensive than it was back in February 2016.

A breakdown

A litre of petrol now costs 120.78p a litre, compared with 118.43p in October. Meanwhile, a litre of diesel has risen from 120.96p to 123.18p.

This means if you want to take your family on a long trip, filling your 55-litre tank with unleaded will cost you £3.55 more than it did in July – when fuel was 114.33p a litre.

Meanwhile diesel drivers of same-size vehicles will pay £4.50 for a full tank compared with 115.02p in July.

Regional variances

Drivers of petrol vehicles in Yorkshire and the Humber have been hit with the most severe rises.

Regional figures for unleaded petrol show November’s rise in the here was the largest in the UK, up by 2.6p a litre on average.

Conversely, Scotland has seen the lowest increase, with the average price rising by 1.9p.

Diesel drivers in the south west of England will also be feeling the pinch, witnessing the UK’s largest rise in the price of diesel by 2.46p.

However, RAC fuel spokesman Simon Williams believes the news isn’t entirely bleak, saying: “Even though the oil price is now consistently above $60 a barrel, the increased value of sterling against the dollar is helping to keep fuel prices down at the pumps.

“This is good news for motorists, as it means petrol and diesel prices are unlikely to shoot up. In fact, we may even see them come down very slightly in the next week or so.”

Looking to save money on fuel? Take a look at our top 10 fuel efficient cars.

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