Fuel prices rose in July, RAC reports
04 August 2020
Author: Sean Keywood
Average UK petrol and diesel prices rose in July, according to data from the RAC.
The average cost of a litre of petrol was up by 3.21p to 114.27p, while diesel rose by 2.95p to 118.04p.
The RAC said the increases came despite the price of oil being stable during the month, and reductions in the wholesale prices of both petrol and diesel.
RAC spokesman Simon Williams said: "July was another bad month for drivers with a 3p a litre rise in the price of fuel. This means petrol is 7p a litre more expensive than it was at the end of May (107p on 31 May) and diesel is 6p more (111.86p on 31 May), something drivers will no doubt have noticed as each complete fill-up is costing almost £2 more.
"The higher prices at the pump have been driven by the cost of oil increasing steadily to around $42 a barrel from a low of $13.21 in April.
"But drivers may well be given some respite as oil producers are planning on ramping up production despite the risk of renewed lockdowns around the world. This could easily lead to supply outstripping demand and therefore a reduction on the forecourts of the UK."