Fuel prices rise again with diesel costs hitting seven-year high
04 August 2021
Author: Sean Keywood
Another rise in UK fuel prices has seen the cost of diesel and petrol at the pumps reach the highest level seen since 2014 and 2013 respectively, according to the RAC.
The motoring organisation said the average price of a litre of diesel in July hit 137.06p, a 2.7p increase.
As for petrol, which had already recorded an eight-year high in June, the price of a litre rose again by 3.4p to 135.13p - July was the ninth month in a row in which the price of petrol increased.
RAC spokesman Simon Williams said: "Prices really are only going one way at the moment - and that's not the way drivers want to see them going.
"Right now it's hard to see what it will take for prices to start falling again. While we're not past the pandemic by any means, demand for oil is likely to continue to increase as economic activity picks up again, and this is likely to have the effect of pushing up wholesale fuel prices, costs which retailers are bound to pass on at the pumps.
"Unless major oil producing nations decide a new strategy to increase output, we could very well see forecourt prices going even higher towards the end of the summer."
Reacting to the RAC's data, Alfonso Martinez, managing director of Leaseplan UK, said drivers and businesses should see rising prices as a call to action rather than a source of frustration.
He said: "Drivers and fleet-operating businesses need to pay close attention to the rising cost of petrol and diesel, as this will likely continue as economic activity picks up. Rather than simply shrugging this off in an act of resignation, they should see this as a call to action.
"EVs present a viable solution to the rising cost of fuel, with the cost to charge a typical mid-size model around 2.27p per mile - which equates to around £9 a month if you were to commute 20 miles a day for work.
"We're now at a point where switching to an EV is both a benefit for the environment and your wallet."