(Bloomberg) -- The cost of filling up a 55-liter family car with petrol has topped £98 ($122.58) for the first time in history, according to the RAC motoring organization.
The average price of unleaded petrol in the UK rose to 178.5 pence per liter on June 6, while diesel increased to 185.2 pence, the group said. Both prices are record highs.
“With analysts predicting that oil will average $135 a barrel for the rest of this year drivers need to brace themselves for average fuel prices rocketing to £2 a litre, which would mean a fill-up would rise to an unbelievable £110,” said spokesman Simon Williams.
UK fuel prices have set a string of new records in recent weeks, with oil prices soaring since Russia began its invasion of Ukraine. The start of peak summer driving season in Europe and the US, as well as the easing of Covid restrictions in China, has also boosted demand, the RAC noted.
The cost of filling cars with diesel already passed £100 at the end of May.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
