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UK fuel prices rose again in January, RAC reports
Date: 03 February 2021 | Author: Sean Keywood
The price of both petrol and diesel at UK forecourts went up in January, according to the RAC.
The motoring organisation said the average price of a litre of petrol went up by 3.5p to 120p - the third consecutive monthly increase.
The average price of a litre of diesel was up by 3.38p to 128.43p, the second monthly increase in a row.
However, both fuels are still around 7p per litre cheaper than they were a year ago.
RAC spokesman Simon Williams said current petrol prices were back to a level last seen at the start of the first Covid-19 lockdown last March.
He said: "The increase stems from $5 being added to price of a barrel of oil although this has been cushioned by the pound strengthening a little against the dollar. One thing's for sure prices are nowhere near the lows we saw in late May when petrol was just under 106p a litre and diesel was 111p.
"These latest fuel prices unfortunately show the power of oil production cuts in getting the barrel price back up from the floor at $13.21, when the impact of international travel restrictions first hit last April, to the $55 mark now.
"Eyes will now be on the Chancellor who will face a difficult decision at his Budget next month as to whether to pile further misery on drivers by raising fuel duty at a time when pump prices are on this rise and many household incomes are being squeezed as a result of the pandemic."
