Petrol prices rise to highest level this year with unleaded jumping a penny in a week to £1.52-a-litre
- The price of petrol on UK forecourts has reached its highest level this year.
- As of September 4, it stood at 151.7p, up from 150.7p the previous week.
- The price rise is driven by an increase in the cost of oil, which has risen by almost $12 a barrel.
The price of petrol at UK forecourts continues to rise and is now at the highest level seen so far this year, according to the latest figures.
The average price of unleaded petrol has increased by a penny in the past week.
As of September 4, the price of unleaded petrol reached 151.7p, up from 150.7p the previous week. This marks the seventh consecutive weekly increase in petrol prices as motorists begin to feel the squeeze once again.
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 in petrol prices is 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 increase in the wholesale cost of fuel 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.
However, it is still 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 increased by nearly 7p per litre last month, making it the fifth biggest monthly rise in 23 years.
Diesel prices also rose by 8p per litre, marking 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.
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