Press release -
RAC warns petrol and diesel likely to rise by up to 3p a litre in run-up to Christmas
Petrol and diesel prices could rise by as much as 3p a litre in the run-up to Christmas as a result of the main oil and gas pipeline system in the North Sea being shut for weeks to undergo emergency repairs.
The shutdown of the Forties pipeline is having an immediate effect on the price of oil as it is responsible for carrying 40% of the North Sea oil and gas production. RAC Fuel Watch data shows the price of Brent crude rose to $65.20 yesterday – the highest price it has reached since May 2015.
RAC fuel spokesman Simon Williams said: “An increase of up to 3p a litre is very bad news for motorists who are already having to endure the highest prices at the pumps for three years. This closure will inevitably lead to an unwelcome increase in the price with the knock-on effect of raising the wholesale cost of both fuels.
“This really isn’t what drivers need at Christmas when many are travelling longer distances to spend time with family and friends. This will only serve to make the most expensive time of year even more costly.
“It is also a stark contrast to two years ago when the price of both petrol and diesel fell drastically as the price of oil crashed to below $40 a barrel in December giving rise to both fuels being sold for 99p a litre at the cheapest retailers.”
The average price of unleaded currently stands at 120.76p a litre which is more than 6p a litre more expensive than it was in July when it reached its 2017 low point of 114.33p. Diesel is now at an average UK price of 123.21p a litre – more than 8p a litre above its cheapest price this year of 115.02p, also seen in July.
A predicted rise of up to 3p a litre would take unleaded to 123.76p a litre and diesel to 126.21p a litre – their highest prices since November 2014. For petrol drivers this would mean the cost of filling up a 55-litre family-sized car would go up by £1.65 to £68.07. A 3p higher diesel price would take the average forecourt litre to 126.21p which would mean a 55-litre tank would cost £69.42 – also an increase of £1.65.
Compared to February 2016, when both fuels were an average of 102p a litre, a petrol fill-up would be £12 more expensive while a diesel fill-up would be £13 dearer.
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About the RAC
First formed in 1897 the RAC has been looking after the needs of its members and championing the interests of motorists for 120 years.
Today it has more than eight million members and is one of the UK’s most progressive motoring organisations, providing services for both private and business motorists. Whether it's roadside assistance, insurance, buying a used car, vehicle inspections and checks, legal services or up-to-the-minute traffic and travel information – the RAC offers a solution for all motoring needs. The RAC is committed to making motoring easier, safer, more affordable and more enjoyable for drivers and road users.
The RAC is the motorist’s champion and campaigns to support the interests of its members and UK motorists at a national level. This includes voicing concerns about the increasing cost of motoring, particularly the price of fuel and the high level of tax levied on it, advancing levels of road safety, and supporting the needs of all drivers, from young to old.
The RAC’s annual Report on Motoring – first published in 1989 – provides a clear insight into the concerns and issues facing today’s motorists.
For the very latest news on UK fuel prices, check RAC Fuel Watch or follow #racfuelwatch on Twitter. RAC Fuel Watch is a comprehensive guide to the latest UK unleaded petrol and diesel prices – both at the wholesale level and at the pump. RAC Fuel Watch analyses how prices changed through the previous month and compares the most recent prices with those from three, six and 12 months before.
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