Fuel prices could turn 2017 into a tough year for drivers

fall in the value of the pound is also contributing as wholesale petrol is priced in dollars, making it more expensive when sterling falls.

Some analysts are now forecasting a further rise in petrol prices over the course of 2017.

A spokesman for website petrol prices.com said: “2017 is going to be another difficult year for fuel prices with many significant events taking place that could impact costs – upwards or downwards.

“While it seems highly unlikely that we’ll see extremes of pricing near the 145p-per-litre levels of 2012, we do expect prices to reach between 120p and 130p per litre at certain points in 2017.”

AA spokesman Luke Bosdet said: “Drivers have had a bad start to 2017, seeing 1p, 2p and even 3p ticking up on the fuel price boards over the Christmas and New Year holiday period.

“Petrol is back to where it was in December 2014, and diesel at a level last seen in July 2015.

“Sadly, in the absence of fuel price transparency to tell them what is feeding these high prices, drivers will be blaming retailers for taking advantage of the festive period.

“All in all, with the cold weather, it’s been a pretty miserable return to work.”

RAC fuel spokesman Simon Williams said: “Drivers should remember that while the oil price is the biggest variable affecting fuel prices, it is not the only one.

“With fuel traded in dollars, the dollar/sterling exchange rate also has a bearing on what retailers pay, and in turn what we pay when we fill up.

“A weaker pound, as we have seen since the EU vote, can see forecourt prices rise but a stronger pound can do the reverse.

“The unprecedented political situation on both sides of the Atlantic has the potential to buffet the exchange rate significantly through next year.”