Fall in pound adds £5 to tank of petrol

DRIVERS are paying an extra £5 for a tank of petrol due to the fall in the value of the pound, according to new analysis.

Pump price savings from the cost of oil dropping back to where it was before Russia invaded Ukraine are being “severely undermined” by the weakness of sterling, the AA said.

The motoring organisation calculated that the price of petrol at UK forecourts would be “at least” 9p per litre cheaper if the pound had maintained its mid-February value of 1.35 US dollars, instead of this week’s level of 1.14 US dollars, which was a 37-year low.