Company Car Today

The average price of petrol and diesel increased for the second month in a row, the RAC said.

According to data collated by the motoring organisation, the average price of petrol increased by 3p a litre last month, while the average price of diesel rose by 0.7p.

Unleaded is 2p more expensive than it was at the same time in 2018 and 2017 (120.11p – 2018; 120.15p – 2017) while diesel is nearly 8p dearer (122.82p – 2018; 122.19p – 2017).

Fuel pump

The RAC blamed the rises on a 4% jump in the cost of oil from $63.81 to $68.07 and a 2% drop in the value of the pound against the dollar ($1.32 to $1.30) during the month, which led to retailers passing on the higher wholesale costs to drivers.

“March has been another rough month for petrol drivers. Unleaded has gone up 2p a litre and diesel by just short of a penny. Diesel drivers are particularly feeling the pinch at the moment, as compared to this time last year and the year before a litre is on average 8p more expensive than petrol. Worse still, diesel is also 8p dearer than it was at this time in both 2018 and 2017,” said RAC fuel spokesman Simon Williams. “Throughout March the wholesale price of diesel was on average 6p a litre more than petrol. This gap has now closed which should hopefully bring some relief to drivers of diesel vehicles. If retailers play fair with motorists the price of the fuel should fall by around 3p a litre in the next fortnight whereas petrol looks like it’s set to rise further with at least a penny or two likely to go on in the coming weeks.”