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Motorists hit by record monthly increase in gas prices | UK News

Motorists were hit by a record monthly increase in gasoline prices in June.

An RAC analysis found that the average cost of a liter of fuel at UK petrol stations has increased by 16.6p from 174.8p to 191.4p.

It was the highest monthly increase in records since 2000.

The price hike added more than £9 to the cost of filling a typical 55-litre family petrol car.

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Meanwhile, average diesel prices rose 15.6p per liter to end the month at 199.1p.

The RAC warned that higher pump prices were expected in early June as oil prices rose in response to increased demand and ongoing supply concerns related to the war in Ukraine.

But five straight weeks of falling wholesale costs have not been reflected at the pumps.

According to the RAC, retailers have doubled their average long-term profit margins to 12p a liter from around 6p a liter.

The organisation’s fuel spokesman, Simon Williams, said: “The speed at which pump prices have increased over the past four weeks is difficult to understand.

“Not a day went by in June that gas prices did not go up, even though the price retailers pay to buy fuel went down.

“There is no doubt that at a time when the cost of living crisis is becoming more acute, drivers are getting an incredibly bad deal at the pumps.”

Average fuel prices have risen by around 27p a liter for petrol and 21p a liter for diesel since former Chancellor Rishi Sunak introduced a 5p tariff cut in March.

Mr Williams continued: “The Treasury Department’s silence on supporting drivers at this time of record high pump prices is frankly deafening.

“Perhaps it has to do with the fact that it benefits greatly from the increased VAT revenue due to the high prices.

“We urgently need the government to go beyond vague words and instead implement a clear package of financial support to show they are on the drivers’ side.”

Twelve people were arrested on Monday after protesters deployed “rolling roadblocks” to bring sections of the M4 to a standstill at a demonstration over high fuel prices.

Motorists hit by record monthly increase in gas prices | UK News

Source link Motorists hit by record monthly increase in gas prices | UK News

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