The price of petrol at UK forecourts continue to rise and is now at the highest level seen so far this year, latest figures show.
The average pump price of a litre of unleaded has jumped by a penny in the last week.
As of September 4, petrol rose to 151.7p, up from 150.7p the previous week, which marks the seventh consecutive weekly increase at the pumps as motorists begin to feel the squeeze once more.
The average pump price of a litre of unleaded petrol has risen by a penny in just a week. As of September 4, it stood at 151.7p, up from 150.7p the previous week, which marks the seventh weekly jump of petrol costs in a row.
The rise is being driven by an increase in the cost of oil, which has gone up by nearly $12 a barrel since the start of July to more than $88 after Opec+ announced it is to reduce its supply.
This has caused the wholesale cost of fuel – what retailers pay – to go up, which in turn has – quickly – been passed on to drivers.
The average price of a litre of unleaded petrol is now at its highest level since the end of December 2022 and has increased by 9p since early June.
But it is still some way below the peak of 191.6p reached in July 2022.
The average price of diesel has also been rising in recent weeks, climbing from 144.6p a litre in mid-July to 154.7p as of Monday.
Earlier this week, the RAC confirmed that petrol prices had accelerated nearly 7p-a-litre last month marking the fifth biggest monthly rise on record in 23 years, data shows.
Diesel was also up 8p-a-litre, the sixth biggest leap, according to RAC Fuel Watch.
This graphic shows the soaring cost of petrol in pence since July, after it rose for the seventh week in a row
All figures have been published by the Department for Energy Security and Net Zero.
Oil rose back above $90 a barrel as Saudi Arabia and Russia said they would extend production cuts to the end of the year.
The rise took Brent Crude to its highest level since November last year and up by more than 25 per cent since the summer lows close to $70.
The surge in oil prices spells yet more misery for motorists who have seen the price of fuel rebound in recent weeks.
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