Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt Fuel prices hit two-year high
Cookies on Businesscar

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time

BusinessCar magazine website email Awards mobile

The start point for the best source of fleet information

Fuel prices hit two-year high

Date: 25 January 2017   |   Author: Daniel Puddicombe

Diesel prices hit a two-year high last Friday, rising by 20% in a year, new figures from the RAC Foundation suggested.

Last Friday, motorists paid an average price of 122.1p a litre for diesel, the highest price since December 2014.

Petrol also hit a two-year high, with drivers paying on average 119.7p per litre last week.

According to the RAC Foundation, wholesale oil prices have leveled off recently, meaning fuel prices may come down in the near future.

The motoring charity claimed these price rises has increased the cost of filling a petrol tank by £10 in 12 months, while a tank of diesel now costs around £12 more than it did a year ago.

Today, the average price of diesel is 122.2p a litre, while the petrol is averaging 119.9p a litre, according to

"Fuel prices have been rising steadily on the back of a doubling of the cost of crude oil over the past year, caused in large part by the collapse in value of sterling against the dollar," said Steve Gooding, RAC Foundation director. "The biggest influence on pump prices remains the Chancellor. Despite the continued fuel duty freeze, he still takes two-thirds of the pump price in tax."