Photograph by Rama
The AA have warned that consumer petrol prices are due to soar by as much as 5p per litre this summer following a surge in wholesale prices across Europe.
UK petrol prices have climbed by nearly 0.8p per litre to 135.78p in the last month, whilst diesel has climbed nearly 0.9p to 140.24p, with more rises expected in the coming months. This consumer price rise is due to the cost of Brent crude rising 9% to $109 in the last week of June, and the pound falling in value against the dollar according to the AA Fuel Price Report.
Speaking on the news of the coming price hike, Edmund King, president of the AA, said
“After the price of petrol stabilised at around 134.6p a litre through much of this June, and weeks were filled with beautiful weather and sporting excellence, it was perhaps inevitable that oil and fuel market speculators would cast a black cloud over what was promising to be a glorious summer”
