2018 sees biggest diesel & petrol price leap since the turn of the millennium

Written by Ellie

A trip to the fuel pumps can be a painful experience these days – in fact, the average price of a litre of petrol rose to its highest point in almost four years this month (129.38p).

Diesel drivers haven’t got it any easier either, with the average cost hitting 132.31p per litre – a price that hasn’t been seen on British fuel forecourts since October 2014.

These eye-watering pump prices have come about as a result of the most dramatic increase in prices since the turn of the millennium, with petrol and diesel prices leaping more in May 2018 than in any other month in the last 18 years.

Recent large rises in the cost of crude oil have been blamed for inflating prices at the pump, which saw wholesale prices jump by 3.46p and 3.88p per litre throughout May.

However, Luke Bosdet, the AA’s fuel price spokesman, accused forecourts of targeting families during the school half-term and “charging [them] through the nozzle” when they would’ve enjoyed bumper sales of ice creams and other summer-related goods.

“Less than a month ago, the petrol retailers were falling over themselves to warn of pump prices at record levels,” said the AA man.

“Now that the price of oil has fallen away and fuel costs have followed, they have kept quiet and carried on charging cash-strapped motorists the maximum for their fuel.”

This greed has been taking its toll. The AA’s recent survey of more than 17,000 motorists found that rising fuel prices had forced 15 per cent of people to spend less time driving and nine per cent to cut back on spending in other areas – 14 per cent had done both.

In total, 38 per cent of those surveyed had made some sort of sacrifice as a result of the rising cost of fuel.

But it doesn’t have to be this way.

Thanks to Fuel Card Services, you and your buiness can now enjoy real fuel cost savings, with free credit and reduced administration, backed by personal service and security.

This means that when you fill up your car with diesel or petrol, the price you pay could be considerably lower than the price shown on the pump, with potential saving of up to 4p per litre on national average prices and 10p on every motorway litre.

You don’t even have to pay for the fuel there and then.

Sounds great right? For more details, visit https://www.fuelcardservices.com/


Posted on 16th July 2018

< Back to Latest News