Petrol and diesel pump prices hit further new highs yesterday but there are hopes of a turning point for petrol prices.

With the oil price falling and wholesale costs down over the last week, petrol pump prices could go into reverse

Latest RAC figures show the average price of petrol increased on Tuesday to 189.33p, taking a full tank over the £104 mark (£104.13). Diesel also reached another new high at 197.11p putting it perilously close to the £2-a-litre milestone. A full fill-up of diesel for a 55-litre family car now costs on average £108.41.

The rise in pump prices came as many drivers were forced into their cars due to the rail strike.

But the RAC said that petrol prices should start turning a corner imminently, giving a glimmer of hope to drivers.

Fuel spokesman Simon Williams said: “With the oil price falling and wholesale costs down over the last week, pressure is mounting on the biggest retailers to turn the tide and put petrol pump prices into reverse.

“It now seems we’ve reached the current petrol peak, so we expect to see the big four supermarkets start to cut their prices. As they dominate UK fuel retailing this should lead to others reducing their prices too which will benefit drivers everywhere.”

The outlook for diesel is not so positive; wholesale prices last week still put it on course to move closer towards an average of £2 a litre.

But Williams continued: “If oil continues to trade lower, it could just prevent this from becoming a reality.”