Latest News

August sees fuel prices rise, despite earlier cuts

Monday 05 September 2016, By AutoVolo

August sees fuel prices rise, despite earlier cuts

August sees fuel prices rise, despite earlier cuts

Average UK fuel prices rose in August, despite a price cut at the beginning of the month, according to RAC Fuel Watch.

On August 1, supermarkets up and down the country dropped fuel prices by 2p per litre after the RAC called for a price cut in light of falling oil prices, but by the end of the month prices had risen once more.

The RAC’s figures showed that petrol prices rose to an average of 111.5p per litre – a 0.33p rise compared to the end of July – while average diesel prices rose 0.77p to 112.91p per litre.

RAC fuel spokesperson Simon Williams said: “There was a strong case for a 3p-per-litre cut in the price of petrol and diesel in late July, and it was a relief to see retailers going some way towards passing on savings to motorists at the start of August.

“Since this point, however, the oil price has rebounded slightly which has had the effect of pushing up wholesale fuel prices again.”

The price rise has been attributed to August’s rising crude oil prices, which jumped 15 per cent to $46.28 a barrel.

Filling the average family car’s 55-litre fuel tank will now cost £61.33 for petrol-powered vehicles and £62.05 for diesel-engined cars.

Williams said: “Motorists have benefited from some slightly cheaper fuel prices in August compared to July, which will have come at a helpful time given the school holidays.

“It is still the case, however, that the average price of unleaded petrol grew at its slowest rate in more than a year in August, and we are thankfully still a little way off the sorts of average prices we saw earlier in 2015 when petrol hit 117p per litre and diesel nearly 121p per litre.”