Petrol prices back on the rise - Car Rental News
Petrol prices back on the rise
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Car Rental News - 19/07/2012
New figures have shown that the cost of petrol is once again on the rise in the UK, following a short break.
New figures have shown that the cost of petrol is once again on the rise in the UK, following a short break.
Officials from the AA said on Thursday that the average cost of petrol in Britain had risen to 132.18p per litre, whilst diesel is now at 137.26p a litre. The news comes following a peak at 142.48p seen in April, which preceded a dip to 130.81p at the beginning of July before the most recent rise.
Edmund King, president of the AA said to BBB News that it was “inevitable” that petrol prices would rise again, adding that the big question is what exactly is pushing them up. He went on to say that current evidence suggests that it is likely speculative trading in the wholesale market rather than basic supply and demand principles.
Experts said prices could have been even lower in recent weeks if a dip in wholesale costs in north-western Europe had been passed along to individual consumers. However, wholesale prices are once again on the rise as well.
The cheapest petrol in the UK is currently found in Humberside and Yorkshire, where the average price is 131.6p per litre, whilst motorists in Northern Ireland are facing the highest prices, with the average hovering around 133.4p.
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