Drivers are being alerted about increasing fuel prices as the price of oil nears $100 per barrel.
The RAC states that drivers will face challenges at the fuel stations due to growing demand in China and reduced production by Saudi Arabia and Russia, leading to a surge in prices.
Since the start of August, the average price for a litre of petrol has climbed by 10p, reaching 155.5p, the highest since the previous December.
The RAC suggests that prices might reach 160p because retailers are keen on boosting their profit margins per litre.
Simon Williams, a fuel representative, commented that current fuel prices at stations are inflated as retailers are enjoying larger-than-usual profit margins.
He mentioned, “If oil reaches $100, the average petrol price should ideally only increase by an additional 2p.”
