U.K. Petrol Prices Hit All-Time High in October, RAC Says
U.K. gasoline prices rose to a record in October, in a further blow to consumers being hit by soaring energy costs and inflation.
The average price for gasoline surpassed highs last seen in April 2012 on October 24, and has continued to rise reaching 144.35 pence ($1.96) a liter on the last day of the month, automotive services group RAC said in a report. Unleaded gasoline rose faster than in any month since 2000, it said.
On Monday, the group said that diesel also reached a record last month. The higher costs for both fuels were mostly a result of the U.K.’s four large supermarket chains increasing prices.
“October 2021 set records for all the wrong reasons and was a horrible month for drivers with both petrol and diesel prices hitting new heights,” RAC fuel spokesman Simon Williams said. “The profit margin retailers are taking on each liter of petrol is greater now than it used to be prior to the pandemic, which is artificially making forecourt prices higher.”
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