Petrol prices on UK forecourts hit 150p a litre

Petrol prices on UK forecourts hit 150p a litre

Petrol prices across the UK have hit an average 150.1p a litre, reaching the highest level since last November, according to the AA motoring group.

Data also showed that average diesel prices rose to 158.3p a litre on Monday.

Experts blamed a rise in oil prices because of tensions in the Middle East as well as a weaker pound compared to the dollar.

The AA predicted drivers would “re-tighten their belts on other spending”.

While overall inflation – which measures the pace of price rises – has eased the cost of petrol and diesel both rose in March.

“Inflation has been heading downwards at quite some speed but petrol’s rebound to 150p a litre leaves a big boulder in the road,”, said Luke Bosdet, the AA’s spokesman on pump prices.

Prices are based on data collected by the Competition and Markets Authority from nearly 3,000 forecourts and analysed by Fuel Prices Online.

But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up “may not get much worse in the short-term”.