Stronger pound insulates fleets from wholesale petrol price rise
The report finds that, with the pound worth 7% more against the dollar than this time last year, a 3p to 4p-a-litre increase in petrol pricing has so far been averted.
According to the latest report, across the UK, petrol in mid-April averages 129.74p a litre, compared to 129.46p a month ago and 136.89p this time last year.
Edmund King, AA president, said: ‘The UK’s economic recovery has boosted the value of the pound and insulated UK drivers from a typical US motoring season-inspired petrol price surge.’
Meanwhile, diesel has fallen a third of a penny over the past month, averaging 136.26p now compared to 136.59p in mid March. A year ago, diesel cost 141.76p a litre.
Commenting on high tax levels, King added: ‘Pump prices across Europe have a nasty habit of exposing the impact of high tax levels on road fuel in the UK – despite the long-term freeze on duty. The Government can at least take some comfort from Holland and Italy squeezing their drivers equally hard when paying tax through the nozzle.
‘The UK’s economic recovery has boosted the value of the pound and insulated UK drivers from a typical US motoring season-inspired petrol price surge. The other positive note is that, with banks and other funds losing their enthusiasm for commodity price speculation, that surge is not as fevered and painful as it has been over the past two years.’
Across the country, Northern Ireland, Scotland, the East Midlands and East Anglia have lost the battle to keep their average petrol prices below 130p a litre. As a consolation, drivers in all parts of the UK continue to enjoy pump prices that are around 7p a litre lower for petrol and 5p cheaper for diesel, compared to April 2013.
At present, the cheapest petrol can be found in Yorkshire and the Humber, averaging 129.3p a litre, while the most expensive is in Northern Ireland at 130.7p. London sells the cheapest diesel at 135.8p a litre and Scotland the most expensive at 136.9p.