UK petrol price sees biggest daily jump in 17 years
The RAC says the average UK petrol price has seen its biggest jump in 17 years.
RAC fuel spokesperson Simon Williams said the average price of petrol climbed more than 2p (2.23p) a litre on Tuesday taking it to nearly 181p a litre (180.73p).
“Diesel increased by almost 1.5p to yet another record high at 186.57p. A full tank of unleaded has now shot up to £99.40, moving us ever closer to the milestone £100 petrol fill-up – an unfortunate landmark we may reach as soon as tomorrow,” he said on Wednesday morning.
“RAC Fuel Watch data also shows that Asda hiked its average petrol price nearly 5p a litre in a single day which is unheard of. As it stands the average petrol price at the big four supermarkets, which dominate fuel retailing, is now 173.37p, while diesel is 182.38p.
“This makes a litre of unleaded more than 7p cheaper at a supermarket which is significantly above the norm of 4p below the UK average. For this reason we expect the other supermarkets to increase their prices today to close that gap as Asda is traditionally the cheapest retailer.”
Mr Williams said the UK is experiencing unprecedented times in terms of the accelerating cost of forecourt fuel.
“Sadly, it seems we are still some way from the peak. While the average price of diesel is heading towards £2 a litre, the cost of wholesale petrol unexpectedly dropped around 5p a litre on Tuesday. If this price is maintained in the coming days it could stem the flow of daily record petrol prices,” he said.