Petrol prices rise for 8th week in a row as experts warn drivers of 'yet another blow'
PETROL prices are even higher at the pumps again for Brits this week - the eighth week in a row that prices have increased.
The average price is now 134.3p a litre, up from 134.24p a week ago, new government data shows.
This is the highest price since April 14th when it was 134.85p a litre.
While diesel has also increased to 142.13p a litre, up from 142p a week ago.
This is the highest price since April 7th when diesel was 142.54p a litre.
Samuel Mather-Holgate, Independent Financial Adviser at Mather and Murray Financial, warned that high prices will remain for at least the next few weeks.
He said: "The price of crude oil stayed high for an extended period but in the last week has crashed from $71 to $65 dollars a barrel. That sounds like good news, but it can take weeks for this to filter through to the pump.
“And in an uncertain world, if things kick off in the Middle East again or tariffs hit petroleum, these price reductions might not make it to your wallet.”
Harry Goodliffe, Director at HTG Mortgages, said it was “yet another blow to household budgets”.
He added: "It’s not just about the Middle East anymore, it’s a mix of oil supply cuts, refinery issues, and a weak pound pushing up import costs.
"I don’t think we’re heading for the extremes of 2022, but it wouldn’t surprise me to see unleaded hitting 140p a litre soon if things don’t settle.
“For drivers, it’s about small wins when you can: use apps to find cheaper stations, avoid premium fuels unless your car actually needs it and combine trips where you can.”
Tony Redondo, Founder at Cosmos Currency Exchange, advised drivers to avoid tourist areas when filling up.
He continued: "Petrol prices are rising fast due mostly to a weakening Pound, down nearly 3% against the Dollar in the last month, global oil prices spiking up to $73 a barrel, and rising retailer margins to cover the NI and minimum wage cost rises.
“Local price variations, higher in tourist areas, worsen the pinch. Cornwall’s prices may hit 145p for petrol and 150p for diesel by late 2025 if trends hold.”
