Cost of petrol highest since ’04

MOTORISTS are starting the new year paying the highest price for petrol since 2014, new figures show.

The average price of a litre of unleaded reached £1.21 last month, according to RAC Fuel Watch.

This is the most expensive since December 2014.

Diesel has reached £1.23 a litre as both fuels have become more expensive in recent months.

Price rises have been driven by a barrel of oil hitting $67 (£50) – its highest amount since May 2015.

Since July the cost of filling up a typical 55-litre family car has risen by £4 for unleaded and £5 for diesel.

Petrol and diesel both cost just £1.02 a litre in early 2016 but current pump prices are still considerably lower than in April 2012 when petrol was £1.42 and diesel was £1.48.