According to the AA, petrol prices have climbed above 150p per litre on average for the first time in five months, posing additional challenges for drivers.
Petrol prices set to increase, impacting millions of drivers.
Drivers may soon pay over 150p per litre for fuel following substantial price increases, raising concerns about potential profiteering at petrol stations.
Concerns over inflation rise with a 3p increase in petrol prices
In just three weeks, petrol prices have surged by 3p, sparking inflation worries for the Chancellor ahead of next month’s Budget announcement, according to recent data.
UK major fuel retailers are still taking far bigger margins
The UK’s competition authority has issued a caution to fuel retailers regarding the pace at which fuel prices have decreased in recent times and the genuine level of competition in
Oil prices hover around their lowest in three months due to deflation concerns in China.
Oil prices have hovered around their lowest point since July due to increasing concerns over demand from China, as the nation experiences deflation.
Crude oil prices have hit a two-month low due to concerns over demand prospects in China
Crude oil prices have dropped to their lowest in two months, driven by concerns over a potential decrease in global demand, with anxieties heightened by recent developments in China.
Saudi Aramco’s earnings decline in tandem with the drop in oil prices.
Energy behemoth Saudi Aramco reported a 23% decrease in third-quarter profits compared to the previous year, primarily due to lower oil prices and production cuts.
AA claims that some petrol stations are overcharging by 5p per litre, labeling them as ‘greedy’.
The motoring association alleges that the average pump price isn’t reflecting the declining costs.
In September, petrol prices increased by 5.1p per litre.
Between August and September, the average petrol price increased by 5.1p per litre, as reported by the Office for National Statistics, keeping inflation steady at 6.7%.
Drivers experience one of the largest monthly surges in fuel costs in years.
In August, drivers faced one of the steepest monthly increases in fuel prices in over two decades, as recent data reveals.
UK Supermarkets accused of driving up petrol prices by 6p a litre
The Competition and Markets Authority (CMA) attributed the recent rise in fuel prices since 2019 to lessened competition among supermarkets.
Diesel prices have been reduced by supermarkets in response to concerns raised by the competition watchdog.
Following the competition watchdog’s decision to intensify scrutiny of the market, supermarkets and other prominent retailers have hastened their cuts to diesel prices, as reported by the RAC.