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RAC warns against rising fuel costs for 2018

The RAC has warned drivers of a rise in the cost of petrol and diesel, after prices reached a three year high at the end of December.

Drivers are likely to face rising fuel costs throughout 2018, according to the RAC after it analysed prices since December 2014.

In December the average price of fuel increased to its highest level in three years – unleaded by 0.45p and diesel by 0.4p. It now means that the average price for unleaded is 121.11p and diesel is now 123.46p.

The price of fuel spiked over Christmas after chemicals giant Ineos had to close a pipeline in the North Sea.

RAC fuel spokesman Simon Williams said: “Sadly, December was the month oil reached its highest point for over two and a half years – something which motorists are now feeling the effect of at the pumps.

“It’s hard to see pump prices getting much cheaper in the early part of 2018. Unfortunately, the good times appear to be over and it’s far more likely that we will see fuel prices going up.”

Fuel prices have risen substantially since July when prices were at their lowest in the year – unleaded costing 114.33p and diesel costing 15.02p per litre.

The increases mean that motorists with an average 55 litre tank will now pay £3.73 more to fill up an unleaded car and £4.64 each time they have to fill up their diesel vehicle.

The results also revealed a substantial regional deficit in the rise of fuel costs, with the North East seeing an increase of nearly 1p for unleaded– nearly double that of the national average.

For diesel, it comes as little surprise that London saw the greatest rise in the cost of diesel. The city’s combative policies against diesel vehicles means that the fuel now costs 0.94p more in the capital.

Ted Welford

By

January 4, 2018

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