The price of petrol has been continually rising since it hit its record high at the end of October. According to RAC Fuel Watch, the average price of petrol is 145.72p per litre, more than two pence more expensive than the previous all-time high of 142.94p.
Diesel is also hitting considerable highs, with a litre costing 149.27p, another increase since its peak of 147.94p on Halloween.
The RAC is predicting that prices of unleaded and super unleaded are “likely to fall”, although diesel prices remain static.
Simon Williams, fuel spokesperson for the RAC, said: “While this isn’t unexpected as petrol has already hit a new record price, it’s still another body blow to drivers and businesses across the country who were already struggling to cope with rising prices.
“As well as hitting household budgets this will have a knock-on effect on the price we pay for goods and services as diesel is very much the fuel of business and, as such, will contribute further to inflation.
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New research has found that the Costco fuel station in Coventry has the cheapest petrol price of any supermarket in the UK at a price of 125.8p per litre.
Generally, major cities have the cheapest fuel prices, with Coventry, Manchester and London appearing frequently as having the most affordable costs.
The cheapest average price of diesel in the UK is at a Sainsbury’s fuel station in Enfield, at just 128.9p, more than 15p cheaper than the national average.
The data, from Vertu Motorcycles, found that of the “big four” supermarkets, Sainsbury’s offers the cheapest fuel on average at 131.5p.
Only four fuel brands, Costco, Murco, Gulf and Independent, are cheaper than the supermarket chain.
This comes as Texaco has been ranked as having the most expensive petrol of any fuel brand with an average petrol price of 135.1p per litre.
In comparison, Costco was ranked as the cheapest with a litre of petrol costing 129.9p.
This may be down to its member-only policy and its scarcity around the UK.
A spokesperson for Vertu Motorcycles said: “With the fuel shortage still fresh in people’s minds, it is critical that everyone reassess how and where they buy their fuel from to avoid paying over the odds.
“Of course, it is not viable for those who live near expensive pumps to drive further afield to find cheaper fuel, but knowing which fuel brands are best to avoid could save you a pretty penny at the pumps if you do have the option.
“Hopefully, this is the last time we hear of any ‘fuel crisis’, but it always pays to do your research and exercise cautious purchasing habits.”
Global crude oil prices remain between £59 and £63 with many hoping that it will come down soon to ease the financial pressure on drivers.
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