The latest RAC Fuel Watch data has shown that UK supermarkets raised the price of petrol and diesel every single day from March 26 to May 23.
In those 59 days, the average price of a litre of unleaded at Britain’s four major supermarket chains went up more than 8p (14.2¢), from 116.66p (206.4¢) to 124.7p (220.7¢). A litre of diesel also increased from an average of 119.3p (211.2¢) to 127.7p (226¢) over the same period.
“This is the worst series of consecutive daily supermarket price rises we have seen since we began monitoring this three and a half years ago,” RAC fuel spokesman Simon Williams said. “The outlook for fuel prices in the weeks ahead is not good, with another penny a litre expected to be added to the current average prices of petrol and diesel.”
The two main factors are responsible for the fuel price hikes are the rise in oil prices to over US$80 a barrel and the unfavourable pound/dollar exchange rate. With fuel being traded in dollars, a weak pound makes the wholesale price more expensive for UK drivers.
