Fuel prices to hit new record high, warns AA

By ALASTAIR DALTON
Published on 17/08/2012 00:00

FUEL prices are again climbing towards record levels after increases at the pumps of more than 3p a litre in the last month, Britain’s biggest motoring group is warning drivers.

The acceleration of price rises follows increases of more than 1p in June.

Petrol now averages 135.52p and diesel 140.45p across the UK, according to the Automobile 
Association’s latest price report.

The prices are respectively 3.34p and 3.19p up on mid-July and compare to the records set in April of 142.48p for petrol and 147.93p for diesel.

Average petrol prices in Scotland were similar, at 135.3p, with diesel slightly higher at 140.8p.

The AA blamed the latest increases on rising oil prices, but said drivers were being partially insulated by increased competition between supermarkets, which sell the cheapest fuel.

Their report added that drivers in the Highlands were benefiting from Asda, traditionally the cheapest for fuel, opening a forecourt in Inverness last month.

AA spokesman Paul Watters said: “Once upon a time, petrol prices would rise heading into the summer, due to higher demand and then fall away late summer onwards. The cost of diesel would then pick up heading into winter as demand for heating oil came into play. These days, demand appears to be increasingly irrelevant.”