Gap between average petrol and diesel prices reaches a record 20p

RAC Fuel Watch data shows the gap between the average price of petrol and diesel has surpassed 20p a litre for the first time ever. As of Wednesday drivers were paying an average of 163.13p for unleaded while diesel had climbed to nearly 184p (183.94p) – a difference of 20.35p a litre.

Following the announcement from oil producer group OPEC+ a week ago that it was cutting production by two million barrels a day, the wholesale price of refined fuel has increased as a result of oil trading above $90 having been below that mark at the end of last month.

RAC fuel spokesperson Simon Williams said: “Since OPEC and its allies agreed to reduce oil supply substantially we’ve seen the price of wholesale diesel go up by 9p a litre and petrol by 4p a litre. This has led to the average price of diesel going up by almost 4p a litre and petrol by nearly a penny. Sadly for diesel drivers, the situation seems certain to get worse with prices heading back to 190p a litre which will add £3 to the cost of a tank (£104.5).”