PETROL prices shot up in July pushing the average cost of tank of fuel to £71.01 – and experts warn that more hikes lay ahead.
It comes despite the price drops throughout June that gave motorists some relief after four months of soaring costs.
The average cost of petrol now sits at 129.21p per litre, according to the RAC Fuel Watch, up by 1.55p on the month before.
In comparison, the price of diesel went up by just under a penny at 0.93p, to 131.95p a litre.
Motorists who fill up at the supermarket pumps felt the pinch the most where prices were higher, with an extra 1.88p add to petrol prices, meaning on average a litre now costs 125.95p.
Diesel drivers were hit with a smaller increase of 1.64p, making a litre cost 128.62p.
Ways to cut down on your fuel costs
HERE are some tips on how you can slash the cost of fuel
- Make your car more fuel-efficient. You can do this by keeping your tyres inflated, taking the roof rack off, emptying your car of clutter and turning off your air con when driving at lower speeds.
- Find the cheapest fuel prices. PetrolPrices.com and Confused.com allows you to search prices of UK petrol stations. All you need to do is enter in your postcode and tell it how far you want to travel (up to 20 miles).
- Drive more efficiently. Some ways to do this, include:
- Accelerate gradually without over-revving
- Always drive on the highest possible gear
- If you can, allow your car to slow down naturally as your brake is a money burner
- Re-starting your car is expensive, if you can keep moving
Overall, it means a tank of petrol now sets drivers back £71.07 compared to £70.21 at the end of June, and £72.57 for diesel up from £72.06.
The hikes have been blamed on a rise in wholesale prices, combined with the weakest pound against the dollar in more than two years.
Wholesale oil prices peaked at $67.41 on July 10 before eventually sliding back down to $63.97.
The pound also plunged by three per cent against the dollar after Prime Minister Boris Johnson's No Deal Brexit plans were revealed, falling from $1.26 at the beginning of July to $1.22 at the end.
The RAC says that the situation could have been even worse if the two had happened on the same day.
But it is also warning that if sterling doesn't improve in the coming weeks, drivers will pay the price at the pump.
RAC fuel spokesman Simon Williams said: "If we do, August could prove to be a very costly month on the UK’s roads.
"This could easily lead to petrol going above the 2019 high of 130.67p seen at the start of June and diesel exceeding the year’s high point of 135.54p at the end of May."
In May, prices rocketed by 5p a litre in the second largest rise in 19 years., adding £3 to the cost of filling up an average family car.
June saw a supermarket pump price war after Asda cut prices by 4p a litre, and the other's followed suit.
Earlier this year, we reported how diesel drivers are paying more for fuel to subside for low petrol price margins for suppliers.
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