Gasoline hits highest price in nearly eight years after last monthly increase at the pump

Gasoline hits highest price in nearly eight years after last monthly increase at the pump

Gasoline is at its highest price in nearly eight years after eight straight months of increases at the pump, RAC figures show.

The auto organization predicted that escalating fuel bills, driven by rising oil prices, could accelerate the shift to electric cars.

According to RAC data, a liter of unleaded gasoline rose 2.7 pence in June, from 129.52 pence to 132.19 pence – its highest price since October 2013 when it was 132 , 28 pence.

June saw the eighth consecutive monthly increase in prices at the pump

At the same time, diesel rose 2.5 pence on the month, from 131.79 pence to 134.32 pence, taking it to its highest price in two years.

The price hike means the cost of filling a 55-liter wagon has risen by £ 10 since last November, when a liter cost 114.12 pence.

The June hike alone added £ 1.50 to a tank of unleaded, with the cost rising to £ 72.70.

The average cost of a full tank of diesel is now £ 73.88, an increase of £ 1.40 for the month.

The average price of unleaded in the country’s four major supermarkets now stands at 128.17 pence after rising 3.3 pence in one month.

Diesel is 130.25p after a 2.91p hike.

This makes a supermarket fuel tank on average £ 2.20 cheaper than in other forecourts.

The June pump price hikes were driven by a 10% increase in the cost of oil which saw the barrel rise from $ 69.37 to $ 76.12 per barrel at the end of the month, causing the price to rise by wholesale of gasoline and diesel.

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Simon Williams of the RAC said: “June has turned out to be a shocking month for drivers with not only the eighth consecutive monthly increase at the pump, but a return to 132p per liter of gasoline – something we didn’t. not seen since October 2013.

“And if an increase in the cost of 18 pence per liter over eight months isn’t bad enough, it’s hard to see the increases come to an end as the price of oil seems to be rising more and more, with $ 6 added per barrel in June alone.

“Compared to a year ago, oil now costs $ 35 more. What is even more concerning is that some analysts are predicting an oil deficit by the end of the year, which could mean further relentless price hikes in the months to come.

“If oil prices and, in turn, fuel prices continue to rise, summer in the UK could end up costing millions of people dearly. ”


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