Petrol price highest in two years as ‘retailers take bigger cut’

Motorists hitting the road in Stroud to take advantage of warmer weather are being stung by petrol prices reaching their highest for nearly two years.

A litre of unleaded fuel costs around £1.28 in Stroud forecourts, according to Petrol Prices, rising to nearly £1.30 in some areas of the district.

This reflects a national average of £1.28 per litre of fuel, which has not been so expensive since August 2019, according to analysis by the PA news agency.

RAC fuel spokesman Simon Williams said drivers are “having to endure relentless pump price increases”.

“It doesn’t need to be this way,” Mr Williams insisted.

“Given that wholesale petrol prices show there is scope for a 2p cut in prices, retailers really shouldn’t be increasing them.

“Diesel drivers have good reason to feel particularly aggrieved too as the wholesale price is very similar to that of petrol.

“Sadly, it looks as though many retailers are now taking a bigger margin than ever with every litre of fuel they’re selling, meaning drivers’ cash isn’t going as far each time they visit the forecourt.”

In Tesco, Stroud, a litre of unleaded costs just under £1.28, while in Shell, Stonehouse, and BP, Stroud, prices are almost £1.30, as of the end of May according to Petrol Prices.

Diesel costs an average of £1.32 per litre in the UK, which is an amount not seen since January 2020.

Fuel sank to as low as £1.05 per litre of petrol and £1.12 per litre of diesel in May 2020, when the global shutdown caused by the coronavirus pandemic led to a collapse in the value of oil.

The cost of filling up a typical 55-litre petrol family car has since risen by around £13, while a full tank of diesel is approximately £11 more.

Luke Bosdet, the AA’s fuel price spokesman, said: “Oil prices rising back above 70 US dollars a barrel casts a shadow over staycation travel, with petrol prices at their highest for 20 months.

“The speed of the price rises at a time when drivers are beginning to travel much longer distances is a post-lockdown shock for many.”

Back to: The Traffic SEOWebsite SEONews and BLOGGloucestershire News

You may also like...