RAC warns of cost of a litre of fuel hitting £2

Image: Getty
Image: Getty

As prices at the pumps again reach new highs, RAC fuel spokesperson Simon Williams said:

“The cost of filling a 55-litre family car with petrol has now topped £98 for the first time in history as a result of a litre hitting a new all-time high of 178.5p on Monday. Diesel also rose to yet another record by reaching 185.2p which takes the cost of a tank to £101.86.

“With analysts predicting that oil will average $135 a barrel for the rest of this year drivers need to brace themselves for average fuel prices rocketing to £2 a litre which would mean a fill-up would rise to an unbelievable £110.

“The oil price is rising due to increased demand for fuel across the world as China eases its Covid restrictions and America and Europe go into the peak summer driving season. All this combined with a weaker pound at $1.2 means wholesale fuel costs more for retailers to buy. The wholesale price of diesel is fast approaching 160p a litre which, when you add 7p retailer margin and 20% VAT, would take the pump price over the £2 mark.

“We strongly urge the Government to take drastic action to help soften the impact for drivers from these never-before-seen pump prices.”

Find out more about petrol and diesel prices with RAC Fuel Watch. The RAC now also tracks the cost of rapid-charging electric cars, via RAC Charge Watch.

Press office team

Press office team

For journalist enquiries only

Share

Latest News

Website preview
Relief at the pumps at last as fuel falls by 4p in March
Free myRAC app allows all drivers, whether RAC members or not, to find the cheapest fuel
media.rac.co.uk
Website preview
21m getaway trips planned as schools break for Easter
RAC Mobile Mechanics can diagnose vehicle breakdown issues early
media.rac.co.uk
Website preview
Four-in-10 say they have no alternative but to drive to work
A car-dependent nation: 81% would struggle to adjust to life without their vehicle
media.rac.co.uk

Get updates in your mailbox

By clicking "Subscribe" I confirm I have read and agree to the Privacy Policy.

About RAC Media Centre

The RAC Media Centre provides journalists and news outlets with the latest motoring-related news, comment, data and research.

The RAC is an iconic UK brand, and provides complete peace of mind to nearly 14 million UK private and business drivers - whatever their motoring needs. As well as its premium nationwide breakdown assistance service – with an expert branded patrol workforce attending more than two million breakdowns every year – and European breakdown assistance products, it offers a wide range of market-leading products across insurance, legal services, vehicle inspections and service, maintenance and repair. Included in this is the first-of-its-kind nationwide Mobile Mechanics service which brings the garage to homes and workplaces. 

At the forefront of new solutions for business fleets and consumers, the RAC’s breakdown service is electric-ready with mobile EV charging technology and be called on using myRAC – its all-in-one route planner, fuel finder and breakdown reporting app