Motorists still miss out on savings from fall in the price of crude oil
A 7 per cent drop in the value of the pound against the dollar since August has denied drivers the possibility of a 2p per litre price cut in petrol, the motoring organisation said.
Prices dipped some 1.5p last month but have climbed again to leave petrol and diesel prices within a fraction of their all-time high in May.
Advertisement
Hide AdAdvertisement
Hide AdThe AA said this had come despite a fall of more than 10 per cent in the market prices of crude oil.
Its monthly price survey showed the UK average cost of unleaded on Monday was 135.61p – 0.1p less than a month ago.
The Scottish average was a touch lower, at 135.4p, down 0.4p. Diesel across the UK averaged 139.62p, down 0.27p, but it was 140.1p in Scotland – down 0.4p but jointly the most expensive with Northern Ireland.
In early May, petrol hit the all-time high of 137.43p and diesel 143.04p.
AA president Edmund King said: “UK families remain hostage to fuel price movements that buck traditional trends, and oil prices that don’t even make sense to experts in the market.” Compared to a year ago the AA estimates £12.6 million a day is being “siphoned” away from the high street and other spending into fuel sales.
A year ago, petrol averaged 115.07p a litre and diesel 117.54p, meaning a typical 50-litre tank now costs £10.27 more to fill.
A school run of just 1.5 miles is costing £40 a year more, the AA added. Last month, it emerged that more than a quarter of motorists are restricting the amount they spend filling up their car due to exorbitant fuel costs.
The less well-off are hit the hardest, the report revealed, with more than four in ten of those at the bottom of the economic ladder setting a maximum spending limit.
But cutting back on the amount of petrol motorists put into their cars has led to a spike in the number of people who run out of fuel while driving.