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Fuel prices see biggest rise in 16 months

Petrol and diesel prices went up by nearly 3p a litre in April, marking the biggest increase for 16 months.

Fuel prices suffered their worst rise in 16 months in April

Data from RAC Fuel Watch shows the average price of a litre of unleaded went up 2.74p from 120.46p to 123.20. Diesel rose 2.94p a litre from 123.08p to 126.02p.

The increase is the largest since December 2016 and brings petrol and diesel prices up to levels last seen in mid-November and December 2014. Drivers are now paying 8p more a litre than they did last summer.

The increase follows a 12% surge in the price of oil – driven by a combination of international issues – and was even more marked at the big four supermarkets, which sell the largest volumes and have raised their prices even more steeply. A litre of supermarket petrol went up 3.2p to 120.17p, and diesel by 3.3p to 123p.

RAC fuel spokesman Simon Williams said: “The outlook for fuel prices is not good at the moment as the oil price is well over $70 a barrel, and if the US does try to re-impose sanctions on Iran and supply drops, motorists will end up paying far more at the pumps. Our current two-week prediction is for prices to go up by a penny or so, but this could quickly get worse if oil gets more expensive and the pound weakens any further.”

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.