Cost of oil drives fuel prices up by over 2p per litre in the last month
By Neil Lancefield, Press Association
May 5, 2016, 12:01 am
The increase was driven by the cost of oil reaching its highest level since November 2015, according to RAC Fuel Watch.
A barrel of oil jumped by 25% in April to 45 US dollars.
RAC fuel spokesman Simon Williams said he does not expect oil prices to rise much further as too much is being produced.
He added: “Motorists are still paying 7p per litre less for petrol and 11p per litre less for diesel than they were at this time a year ago, which means a tank of unleaded is more than £3 cheaper and diesel is £6 less expensive.”
The average price for a litre of petrol rose from 105.6p to 108.3p last month, while diesel increased from 105.4p to 108p.
Supermarket prices increased by more than 3p per litre, to 105.9p for petrol and 102.6p for diesel.
