Petrol prices in the UK have risen to an average 150p a litre for the first time since January, according to data from the AA.
Figures show the average unleaded price now stands at 150.1p a litre while the cost of diesel has jumped to 152.41p – further raising the financial pressures already facing the country.
AA spokesperson Luke Bosdet said wholesale cost increases “appear to have peaked for the moment”.
“It is still possible to find fuel stations offering fuel at 4p-5p a litre cheaper than most. The problem is knowing where they are,” he said.
The latest report comes after analysis from the RAC revealed the UK’s four biggest supermarkets – Tesco, Asda, Sainsbury’s and Morrisons – have doubled their profit margins on fuel since Russia invaded Ukraine in February 2022.
The supermarkets increased their margins from 4.7p per litre prior to the war to around 10p per litre since.
The increased profit margins saw drivers paying an extra 6p per litre for fuel last year
In 2016, combined margins for petrol and diesel were just 2p, gradually rising to 6p in 2021, until the sharp spike in 2022 to 9p.