Fuel prices surged over bank holiday break, says RAC

Petrol prices surged by nearly 5p a litre in the week that included the bank holiday break, the RAC says, which warned it could soon hit 180p a litre.

The motoring organisation said that the average cost of a litre of petrol rose from 173.02p at the start of the week to 177.88p by Sunday.

Oil prices remain high due to the war in Ukraine and sanctions to reduce Europe's dependence on Russia.

However, RAC spokesperson Simon Williams, said: "More radical government intervention is urgently needed, whether that's in the form of a further reduction in fuel duty or a VAT cut."

Over the same period, from 30 May to 5 June, average diesel prices also rose from 182.58p a litre to 185.01p.

"Sadly, we expect to see the average price of petrol break through the 180p mark this week with diesel moving further towards 190p," said Mr Williams, who described the recent rise as "frightening".

AA fuel price spokesman Luke Bosdet said: "Shock and awe is the only way to describe what has been happening at the pump during the half-term break."

He added: "The forces behind the surge have been oil jumping back above $120 a barrel for the first time since late March, combined with petrol commodity prices being boosted by summer motoring demand."

Many UK households are struggling with the rising cost of living and the consumer prices index (CPI) measure of inflation reached 9% in the year to April. The rise in the price of petrol and diesel was a major contributor to the increase in inflation.

As well as the war in Ukraine, Brent crude prices remain elevated after major oil producer Saudi Arabia said on Monday that it would increase its selling price from July.