Daily Mail - - News -

DRIV­ERS are fac­ing the high­est prices at the pumps for more than three and a half years. The cost of fill­ing a tank in a typ­i­cal petrol or diesel car has soared by £ – or 4p a litre – in the past month.

Petrol has surged past the 1 5p a litre bar­rier, push­ing up the cost of stay­ca­tions and week­end breaks for mil­lions of fam­i­lies as the late May bank hol­i­day nears.

Yes­ter­day the oil price hit $80 a barrel for the first time since Novem­ber 014 amid con­cerns that Don­ald Trump’s de­ci­sion to pull out of the Iran nu­clear deal and im­pose sanc­tions will hit pro­duc­tion.

With mar­ket spec­u­la­tors pre­dict­ing oil will hit $100 a barrel next year, or even $150, petrol re­tail­ers are warn­ing driv­ers to brace them­selves for record prices at the pumps. Six years ago petrol hit a high of 14 p per litre and diesel hit 148p. If this were to be re­peated, fill­ing up a 55litre petrol car would soar to £78, while a tank of diesel would cost more than £81.

This com­pares to £69 and just un­der £71 re­spec­tively as of Tues­day this week.

Ac­cord­ing to the AA’s lat­est fuel price re­port, driv­ers face spi­ralling costs.

Petrol prices hit 1 6.04p per litre this week, and 1 8.79p per litre for diesel – the high­est level since Oc­to­ber 014.

Pub­lish­ing its re­port to­day the AA hit out at ‘mar­ket spec­u­la­tors’ and re­tail­ers for ‘de­lib­er­ately talk­ing up’ the price of oil to boost their prof­its.

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