Fuel prices on the rise again

Petrol prices rose again in July, while diesel prices remained stable.

According to data from the RAC Fuel Watch, a litre of unleaded across the UK increased to 145p, a 2p rise since the beginning of June. This comes on the back of a 6p a litre rise in wholesale prices since 19 July.

However, diesel stayed the same at 146p, after eight consecutive months of falling prices.

RAC fuel spokesman Simon Williams said: “July marks a turning point in the year for fuel prices as diesel stopped falling while petrol recorded its second consecutive monthly increase. While we’re fortunately not in the kind of upward price spiral we experienced last year, it feels like the better times at the pump are over for the time being.

“The big question now is how quickly and how far pump prices rise. We sincerely hope we won’t see them shoot up like the proverbial rocket as this would indicate the Competition and Markets Authority’s fuel market investigation findings and recommendations have not had an immediate impact.”