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Business
Erin Santillo

Average UK petrol price jumps nearly 3p in a week to hit record 170p per litre

The price of petrol has risen by 3p per litre over the last week, according to official figures.

Data collected by the Department for Business, Energy and Industrial Strategy (BEIS) found the average price of a litre of petrol at UK forecourts on Monday, May 30, was a record 170.4p. The figure is up from 167.6p a week earlier and 162.5p a month ago. It means the average price of 50 litres of petrol is now at £85.22.

The average price of diesel on Monday has also risen to 182.4p per litre, up from 181.2p last week and 177.1p a month ago. A 50-litre tank now costs £91.19 to fill.

Read more: Motorists who run out of fuel while driving could face hefty fine

It comes as the European Union imposes a partial ban on Russian oil amid the country's invasion of Ukraine. The embargo saw global oil prices surge on the back of continuing supply pressures as the world emerges from the Covid pandemic.

Steve Gooding, director of the RAC Foundation, said he would not be surprised if prices continued to rise. He said: "Millions of drivers will now be faced with a bill of £100 or more to fill up their cars.

"While many drivers will sensibly be seeking to maximise their miles per gallon by going easy on the throttle, the risk now is that some might misjudge the difference between running low and running out in the hope that tomorrow's prices will be lower. But we wouldn't bet against the pain increasing further, with oil pushing up above the 120 US dollars a barrel mark and the wholesale price of petrol still rising."

Separate pump price figures from data firm Experian Catalist, which uses a different methodology to BEIS, suggests the average cost of a litre of petrol on Tuesday was 173.0p, with diesel at 182.6p.

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