Petrol prices start rising again

3 March 2016

petrol For the first time since July 2015, petrol prices have risen again. This is according to RAC Fuel Watch.

They said that, last month, the average price of a litre of unleaded was 101.93p, which is up 0.66p over the month. As for you diesel lovers, that was up 1p at 101.18p. This has something to do with the value of sterling dropping against the US dollar, and there's also been a recovery with the price of a barrel of Brent crude oil.

That all said, the wholesale cost of fuel actually fell, which means that, at least, we shouldn't see sharp increases in prices at the pumps.

Of course, the price of petrol has been falling every month since last summer, for a whole host of reasons, with some forecourts selling a litre of fuel for under a quid, which has been magnificent for motorists.

RAC fuel spokesman Simon Williams said: "The oil price had been consistently around $30 for most of the month but in the last few days of February rose to around $36 - a price we haven't seen since the beginning of the year."

"While it's disappointing for motorists that the average price of petrol has gone up for the first time in seven months, the supermarkets have held their prices and the wholesale price of unleaded is still low enough to keep petrol under £1 a litre at their pumps."

"If it proves to be the case that oil prices have bottomed out, the RAC will be monitoring the effect on pump prices even more closely for any sign of the infamous 'rocket and feather effect' where prices go up far faster than they came down."

TOPICS:   Motoring


  • Albi
    Bet Gideon puts duty up in the budget. With low prices he has an excuse and his duty has been falling.
  • John K.
    I'll never understand petrol prices. Just last week I read an article where Saudi Arabia were increasing their output and the next week a rise.
  • Chris
    You don't have to be a Green-voting hippie to realise our need to move away from our dependence on imported fuels. It makes us vulnerable to all sorts of "fluctuations" in those foreign places and puts us at the mercy of other governments. Then there's the separate, but related matter of dealing with the air pollution that's killing 40k of us each year (it's ok, it's only picking off the young and the old and mostly people already a bit weak).

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