Petrol prices have risen for the sixth consecutive month, pushing the cost of a full tank to £70, figures show.
The cost of topping up is expected to surge further in the coming months as demand rises following eased lockdown measures, the return of air travel, and restrictions on production.
Combined, these are expected to push wholesale costs to around the $70 a barrel mark.
The average cost of a litre of unleaded went up 0.89p in April, reaching 127.19p, according to RAC Fuel Watch. That was the highest price since January 2020.
Meanwhile diesel rose by 0.62p per litre, bringing it to 129.73p per litre by the end of April.
The cost of filling up a 55-litre family car is now £69.95 for petrol models and £71.35 for diesel cars.
Pump prices are likely to increase further this month due to a rise in demand for oil.
It could see oil rise to the $70 a barrel - a price last seen in May 2019.
RAC fuel spokesman Simon Williams: “April marks six months of rising petrol prices and sadly there’s no end in sight as oil is getting perilously close to hitting $70 a barrel – something we haven’t seen for more than two years. If oil breaks this threshold, it will inevitably spell more bad news for drivers at the pumps.
“But unfortunately, it’s the very fact people are driving more that’s causing petrol prices to go up as demand for oil – and in turn fuel – begins to outpace supply.
“The saving grace is the relative strength of the pound compared to the US dollar on world currency exchange markets. As oil is traded in dollars, a stronger pound means it costs less to buy for refining into motor fuel. If the value of the pound were to tumble, we’d all be paying much more at the pumps than we are at the moment.
“Currently, diesel car drivers have genuine cause to feel let down by fuel retailers as they should really be paying a lot less per litre to fill up as the wholesale price has been similar to that of petrol for most of April. Despite this, diesel is 2p a litre more expensive than petrol at 129.73p.”
Motorists can keep control of their fuel spend by seeking out the cheapest forecourts, usually the supermarkets.
The ‘big four’ – Tesco, Asda, Sainsbury’s and Morrisons – are currently charging 4.5p less per litre of unleaded than the UK average (122.67p), and 4.19p less per litre of diesel (125.54p).
At the opposite end of the scale, compared to average UK prices, it costs 18p more per litre to fill up with petrol or diesel at motorway services (unleaded at 144.98p and 147.89p).
