Fuel prices expected to rise​

Fuel costs continue to creep up at the weakening of the pound and recovery of crude oil prices.

The Petrol Retailer’s Association (PRA) - which represents the views of forecourts across the country – predict that UK drivers could see a rise as much as 5p per litre by the end of October.

The cost of fuel rose for a second consecutive month to drive the average price of diesel the highest level for the year so far, while petrol ended the month only slightly shy of 2016 highs.

New data from motor group RAC found that the average price of diesel at the pumps rose 0.42p during September to reach 113.34p a litre, its highest price this year.

Since the Brexit vote, the value of the pound has fallen by 15% against the dollar and as oil is purchased in dollars, it becomes more expensive for UK companies to purchase. To date, price rise has been limited, however suppliers are feeling increasing pressure to pass on additional costs to drivers.

A 5p per litre rise would push the average price of petrol in the UK to £1.16 per litre for petrol, and £1.18 for diesel. Premium petrol and diesel will continue to cost substantially more.