Drivers had a short respite from rising pump prices in April, but experts warn that before the anniversary weekend, fuel prices will rise again
- Average gasoline prices in the UK fell by half a penny in April, while diesel remained at
- This put an end to three months in a row “nightmarish” rises at the pumps
- The RAC says retailers should have handed over more savings to drivers in early April
- Now fuel price experts warn that the cost of refueling could rise again in a few days
After three months of “nightmarish” rising fuel prices, April, according to data released today, has become a much-needed vacation for motorists from the ever-increasing pain in the pumps.
The average price of gasoline fell 0.5 per liter to 162.75 pence for the month, while diesel remained at 177 pensions from early to late April, according to the latest RAC Fuel Watch report.
However, a brief respite from rising filling costs would have led to lower prices even more if retailers switched to full savings in early April.
Experts warn that prices could rise again in May and hit the wallets of those planning a trip to the Queen’s anniversary weekend in early June.
April was a long-awaited break after three consecutive months of “nightmarish” rising fuel prices – but drivers should be prepared for the fact that in the coming weeks, costs will rise again
Rocket prices for gasoline and diesel have generally eased Chancellor Rishi Sunak announced on March 24 a reduction in the duty on fuel by 5 pence per liter in his Spring Statement to help society in the face of rising cost of living.
By the end of April, unleaded fuel prices had fallen to 4.5 pence per liter below the record high of 167.3 pence set on March 22, while diesel fuel was 2.5 pence below the maximum of 179.9 pence 23 March.
This means that the cost of refueling a 55-liter family car from empty to 50 pensions is less than at the beginning of the month – 89.51 pounds, while filling the tank of equivalent diesel fuel costs 97 pounds.
Using a tentative figure of 40 miles per gallon, the RAC estimates that every mile now costs petrol drivers 18.5 retirees and diesel car owners nearly 20 pensions.
And for those who refuel on highways, it is even more expensive, last month the average price rose by almost a penny per liter.
Gasoline prices at gas stations in April rose by an average of 0.67 pence to 182.08 pence, and diesel fuel – by 0.83 to 192.34 pence, according to the RAC.
These figures suggest that Mr. Sunak’s fuel tax breaks have not led to a sharp drop in refueling costs, although prices have at least declined in recent weeks.
The reduction in the fuel duty was largely offset by relatively high oil prices during April.
While the price of oil for the month fell below $ 100 three times, the price per barrel ended slightly higher than it began in April, and amounted to 108.62 dollars (107.52 dollars on April 1).
As an additional blow to the British, the pound also lost ground against the dollar, falling from $ 1.3 to $ 1.25 a month. When fuel is traded in dollars, it has also affected the wholesale prices paid by fuel companies.
While the cost of refueling across the UK has fallen slightly, average prices for motorway services have continued to rise by almost a penny per liter
A higher price for gasoline is forecast in May
RAC spokesman for fuel Simon Williams said retailers should have been quicker to pass on the savings they benefited from when wholesale prices were lower in early April.
“Instead, the largest retailers who buy more often have protected themselves from future growth,” he said.
“They will no doubt think they were justified if they didn’t lower their prices, as wholesale costs are now rising again, in part because the pound is losing ground against the dollar, making it more expensive for retailers if they buy new stocks.
“It is also the case that the margin of retailers in April was much higher than in March. According to RAC Fuel Watch estimates, they needed about 4 pensions more per liter than the previous month.
“It will certainly be a disappointment for the chancellor, who has reduced fuel duties by 5 pensioners per liter in a spring statement.”
AA warns that fuel prices could jump by about 5 retirees per liter in a few days after wholesale prices jumped in late April, and retailers will seek to pass on higher costs
Earlier this week, AA warned that gasoline and diesel prices could set new records in a matter of weeks – just for the platinum anniversary celebrations in early June.
His analysis found that wholesale prices last week rose by 5 retirees per liter – an increase that takes two to three weeks to pass on to the pumps.
This could mean a repeat of the situation observed in March, and set new records at the pumps.
An AA spokesman said: “Drivers need to prepare for the jump in gasoline prices.”
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