Fuel prices increase in February
Fuel prices increased in February following three consecutive months of reductions, the RAC said.
The motoring organisation said the average price of a litre of petrol increased by just under a penny (0.88p) to 120.42p by the end of the month while diesel climbed more than a penny (1.24p) to 129.88p.
The RAC blamed the price rises on a 5% increase in the price of oil which added $3 across the month taking the barrel price up to $65.13 by the close of February The increase in the price of crude has been driven by production cuts made by OPEC (Organization of the Petroleum Exporting Countries) in partnership with Russia, it added.
However, the RAC noted that since the beginning of November, 11p a litre has come off the price of petrol and the price of diesel has fallen by 8p a litre.
Tesla cuts S and X model prices
Tesla has dropped the prices of its S saloon model and X SUV in order to make its vehicles more affordable.
The price cuts mean the entry-level Model S costs from £72,000 – £2,000 less than before – while the entry-level Model X now costs from £80,200.
“With these updates, we’ve taken a significant step towards allowing everyone to buy a Tesla, and accelerating the transition to sustainable transportation,” the electric car maker said.
MG teases first EV
MG has confirmed it is to build an electric version of its ZS crossover.
Set to revealed later this year and go on sale in the autumn with further details, including the price and range of the vehicle set to announced closer to its launch date.
Daniel Gregorious, head of sales and marketing at MG, said: “With the launch of our MG ZS electric SUV we’re delighted to be entering the electric car market at such an exciting time. With all the practicality and versatility of a compact SUV, a full-sized boot and room for five, ZS means electric without compromise”.