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Fuel prices rise for second consecutive month

Date: 05 April 2019   |   Author: Sean Keywood

The average price of petrol and diesel in the UK rose during March - the second month in a row during which prices went up.

According to data from the RAC, the average cost of a litre of petrol went up by 2p, to 122.58p, while the average for diesel rose by 0.7p, to 130.67p.

The rises mean that petrol is more than 2p more expensive than it was at the same point in 2018, whereas diesel is nearly 8p more expensive.

On the other hand, both petrol and diesel are still much cheaper than they were in October last year, by 8p and 6p respectively.

According to RAC, the March rise was due to a 4% rise in the cost of oil, and a 2% drop in the value of the pound against the dollar, with oil traded in the latter currency. 

RAC spokesman Simon Williams said: "March has been another rough month for petrol drivers. Unleaded has gone up 2p a litre and diesel by just short of a penny. 

"Diesel drivers are particularly feeling the pinch at the moment, as compared to this time last year and the year before a litre is on average 8p more expensive than petrol. Worse still, diesel is also 8p dearer than it was at this time in both 2018 and 2017. 

"Throughout March the wholesale price of diesel was on average 6p a litre more than petrol. This gap has now closed which should hopefully bring some relief to drivers of diesel vehicles. 

"If retailers play fair with motorists the price of the fuel should fall by around 3p a litre in the next fortnight, whereas petrol looks like it's set to rise further with at least a penny or two likely to go on in the coming weeks."