Fleet have started 2018 paying the highest price for petrol since the end of 2014, RAC Fuel Watch data reveals.
An analysis of fuel prices for December shows the average price of unleaded increased for the second month running – this time by 0.45p from 120.66p to 121.11p – while diesel went up from 123.06p to 123.46p (0.4p).
It means that a litre of petrol is now at its highest price point since 2 December 2014 when it cost 121.08p.
Both fuels have increased substantially from July when petrol was at its cheapest point of the year at 114.33p a litre (up 6.8p) and diesel was 115.02p (up 8.4p).
The price rises have been driven by the increased cost of oil which is now at its highest since May 2015 at $66.61 – the cost of a barrel rose 3% in December having started the month at $64.59. Furthermore, the motoring organisation said it was “hard to see” pump prices getting much cheaper in the early part of 2018.