Petrol passes ‘attention-grabbing’ 150p a litre for first time this year

Average petrol prices are exceeding 150p a litre for the first time since November, figures show.

Data collated by website Fuel Prices Online shows typical prices reached 150.1p a litre on Monday.

The average price of a litre of diesel is also at the highest level since November, at 158.3p.

Rising fuel prices in recent weeks have been attributed to an increase in the cost of oil and a weakening of the pound against the dollar.

AA’s Luke Bosdet said: “Inflation has been heading downwards at quite some speed but petrol’s rebound to 150p a litre leaves a big boulder in the road.

“Government data shows that for the fourth week petrol prices have been higher than at the same time a year ago.

“This last happened in February 2023.

“Five days of falling wholesale costs, with the value of oil coming off the boil, offers hope that pump prices may not get much worse in the short-term.

“However, road fuel priced above 150p a litre grabs the attention of drivers and will lead some to re-tighten their belts.”

Figures are based on data from the Competition and Markets Authority analysed by Fuel Prices Online.

The AA said analysis nearly 3,000 forecourts shows 28.1% were charging at least 150p/ litre for petrol on Monday, compared with 23.8% a week earlier.

RAC fuel spokesman Simon Williams said: “Drivers are now really starting to feel pain at the pumps” but added that a reduction in retailers’ fuel purchase costs should mean pump prices “don’t rise much further, if at all”, but he warned that “much depends on the margin these same retailers decide to take”.

Rising prices have been blamed on increased oil costs.