Petrol prices soar to highest level in four years reaching 130p a litre – here’s how to find the cheapest pumps
PETROL prices have reached a four year high, soaring to 129.68p a litre on average, according to motoring organisation The AA.
The cost per litre has rocketed by 1.2p in the last month even though the price of oil has dropped by 10 per cent compared to its peak in May when it hit $80 a barrel.
A barrel of oil now costs below $75 but retailers are yet to pass this saving on to forecourts.
In June, the price of petrol hit 129.51p a litre, which reflected the high-cost of crude oil - but that's cheaper than petrol now costs today.
The AA blames price hikes on the weak pound and uncertainty around a no-deal Brexit.
You can typically get a better deal on fuel if you fill up at the supermarket rather than at a petrol station that's run by an oil company.
Three ways to cut your fuel costs
HERE are three ways to cut down your fuel costs
- Make your car more fuel-efficient. You can do this by keeping your tyres inflated, taking the roof rack off, emptying your car of clutter and turning off your air con when driving at lower speeds.
- Find the cheapest fuel prices. Use PetrolPrices.com. All you need to do is enter your postcode and tell it how far you want to travel (up to 20 miles)
- Drive more efficiently. Some ways to do this, include:
- Accelerate gradually without over-revving
- Always drive on the highest possible gear
- If you can, allow your car to slow down naturally as your brake is a money burner
- Re-starting your car is expensive, if you can, keep moving
Supermarket fuel stations can be up to 8p cheaper per litre, according to The AA.
Asda, for example, is selling petrol for 124.83p a litre on average compared to Shell where it costs 132.74p a litre.
Other average supermarket prices include Sainsbury’s at 125.59p, Morrisons at 126.07p and Tesco at 126.38p, compared to Texaco at 130.46p, BP at 132.14 and Shell at 132.74p.
Prices vary depending on the region drivers are filling up in too.
Drivers in Edinburgh will be picking up the cheapest petrol on average at 126.4p a litre, while it's 126.6p in Blackpool and 126.8p in Wigan, according to comparison website Confused.com's Petrol Price Index.
Motorists should fill up in Halifax for the best deal on diesel where it costs 129.7p per litre.
In comparison, average diesel prices have dropped by 0.1p a litre over the last month, according to The AA.
Diesel pumps in Bradford reached lows of 129.8p per litre and 129.9p in Blackpool, according to Confused.com.
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Luke Bosdet, the AA's fuel price expert said: "Normally, we would expect supermarket pump prices to start to follow non-supermarket pump prices a week to 10 days later.
"However, oil's continued fall is blunting some of the inflationary impact of currency weakness and greater overseas gasoline demand."
In February, we revealed how drivers face a "postcode lottery" with fuel costing £17 more if you live in the wrong town.
Tesco is also offering 10p off per litre but you need to spend £60 on groceries first.
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