Petrol price at 9-year high

THE price of petrol has surged to its highest for almost a decade, with an average of £1.40 per litre for unleaded.

The last time it was so high was in September 2012 – and the all-time record of 2.5p a litre above the current price was in April 2012. The wholesale price of diesel has increased by 10p a litre in a month to £1.43.

The Petrol Retailers

Association warns that forecourt prices will continue to rise after motorists emptied many stations last month.

But it denied this had led to profiteering, with increases caused by global factors. Brent crude has doubled in price in a year from $42 (£30.50) per barrel last October to $ 4 (£61) as demand soared and oil producers cut output.