Petrol prices hit 8-year high as costs of filling up surges for 9th month

Petrol prices have hit an 8-year high as the cost of filling up vehicles has increased for a ninth month in a row.

Now motorists are being hammered at the pump since unleaded petrol rose 3.4p a litre in July, the biggest increase since January.

It put the average price back at 2013 levels of 135.13p, with diesel costs rising 2.7p to 137p, a seven-year high.

The figures have been released as RAC looked into petrol prices across the UK.

Unfortunately the hikes are set to continue as the coronavirus recovery increases demand.

Oil prices, which dropped to $31 a barrel in March 2020, have more than doubled to $76 now.

Experts from US investment bank Goldman Sachs think it could even hit $80 a barrel in months.

The RAC warned families taking road trips in a summer of staycations face "relentless rises".

Growing global confidence amid the Covid vaccination programme has since raised demand.

Simon Williams, spokesman for RAC, said: "Prices really are only going one way at the moment – and that's not the way drivers want to see them going."

He advised motorists to drive "as economically as possible" in a bid to cut costs.

Simon added: "Right now, it's hard to see what it will take for prices to start falling again.

"While we're not past the pandemic by any means, demand for oil is likely to continue to increase as economic activity picks up again.

"Unless oil producing nations decide a new strategy to increase output, we could see forecourt prices go even higher."

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