Petrol and diesel prices

[dutchman]

Pump prices for petrol and diesel are near a record high



A litre of petrol sold at UK forecourts has reached its highest level since September 2012, at 140.22p on average, according to RAC data.

Drivers are paying on average 22% more to fill up their petrol tanks than this time last year, the RAC said.

Diesel prices are also surging and are now just 4p off their April 2012 highs.

The bad news for drivers follows the temporary closures of many UK forecourts after they ran out of fuel.

But it's global oil prices, rather than supply chain disruption, that the RAC thinks is the main driver of higher prices at the pump. A barrel of crude oil has doubled in the past year.

RAC fuel spokesman Simon Williams said the government should consider cutting the level of VAT on motor fuel "to help hard-pressed drivers".

Average petrol prices are just 2p off their record high from April 2012 of 142p per litre, says the RAC.

However, AA spokesperson Luke Bosdet said it will likely be diesel, currently at 143.42p a litre, that breaks its record price first.

"Unless we see a slight reversal in wholesale prices, we can expect in the next couple of weeks a rise of 3-5p per litre and that would put diesel above its 2012 high," he said.

Mr Bosdet said the global surge in gas prices was also driving up the cost of diesel because heating oil "comes from the same part of the barrel" and - since it was an alternative for gas - had seen increased demand.

[dutchman]

Where to find the cheapest petrol in Coventry as prices reach record high

Currently, according to data from the website petrolprices.com, Costco in Torrington Avenue, Canley, comes out as Coventry's cheapest petrol station.

The retailer told CoventryLive today that its unleaded was 138.9p per litre and its diesel was 140.9p.

It's a stark contrast from early July when the city's cheapest unleaded cost 124.9p per litre, sold from Sainsbury's in Courthouse Green.

That particular Sainsbury's is one of three stations in the city - alongside the Gulf in Dunchurch Highway, Allesley and the Morrisons in Skipworth Road, Binley - selling petrol for 139.7p per litre, according to petrolprices.com.

The Pace garage in Torrington Avenue has updated its prices, to 139.9p and 145.9p per litre for unleaded and diesel respectively, making it the fifth-cheapest forecourt for petrol in Coventry.

There is a slightly cheaper alternative to all of the aforementioned for motorists happy to venture beyond the city limits.

The Esso in Coventry Road, Exhall, is selling unleaded at 137.9p and diesel at 145.9 per litre, CoventryLive can confirm.

At the opposite end of the scale is the BP petrol station at Rugby services, just off the M6 at Junction 1, where the price of petrol is 157.9p per litre and its diesel is 159.9p per litre, amongst the highest charges in the UK.

[dutchman]

The 15 cheapest petrol stations in Coventry today as prices stay at record levels



Below is a list of the city and surrounding area's 15 cheapest petrol stations using data from leading website petrolprices.com.

Unleaded fuel prices

1, Costco in Torrington Avenue, Canley - 138.7p per litre

2, Pace (Cromwell garage) in Torrington Avenue, Canley - 139.9p per litre

3, Asda in London Road, Abbey Park - 140.7p per litre

4, Asda in Brade Drive, Walsgrave - 140.7p per litre

5, Sainsbury's in Austin Drive, Courthouse Green - 140.9p per litre

6, Gulf in Dunchurch Highway, Allesley - 141.7p per litre

7, Holyhead Road Service Station in Holyhead Road, Coundon - 141.8p per litre

8, Exhall Service Station in Coventry Road, Exhall - 141.9p per litre

9, Morrisons in Holyhead Road, Coundon - 142.7p per litre

10, Morrisons in Skipworth Road, Binley - 142.7p per litre

11, BP in Lockhurst Lane, Foleshill - 142.9p per litre

12, Sainsbury's in Herald Way, Canley - 142.9p per litre

13, Tesco in Phoenix Way, Rowley's Green - 142.9p per litre

14, Tesco in Clifford Bridge Road, Walsgrave - 142.9p per litre

15, Texaco in Hinkley Road, Walsgrave - 142.9p per litre

[dutchman]

Diesel above £1.50 a litre for the first time ever



The UK average price of diesel rose above £1.50-a-litre for the first time ever over the weekend, according to data revealed by the AA this morning.

Diesel peaked at a high of 150.50p while petrol also set a new record of 146.53p.

Experts described diesel surpassing £1.50 as 'another milestone along a bleak road of pump prices increases this year' and warned it could soon spark a rise in the price of goods and services.

Motorists have been experiencing all-time-high prices at the pumps for the last three weeks.

Unleaded rose above the April 2012 previous record high of 142.48p on Sunday 24 October and has added another 4p-a-litre on average since.

Diesel surpassed what was the previous record high set in the same month nine years ago when it rose to 147.94p on Sunday 31 October.

October saw the biggest increase in fuel costs in a single month, jumping a staggering 7.5p-a-litre, stats show.

Though with prices still on the rise and set to continue in the run-up to Christmas, November looks set to be another expensive month for drivers at the pumps.

[rebbonk]

And it's only going to get worse!

[dutchman]

The cash machine has disappeared from the petrol forecourt in the Butts!

I don't know if it's related but it had become a magnet for beggars who used to camp out next to it.

Might also be related to the road widening scheme.

[dutchman]

Average petrol prices near 150p a litre as Ukraine tensions add to cost of living pressure



Petrol costs at UK forecourts are closing in on 150p a litre as tensions between Russia and Ukraine drive global oil prices higher.

According to the RAC, the average rate for a litre of petrol hit 149.3p on Tuesday - a new record - while diesel was priced at 152.68p.

The motoring organisation warned motorists to expect petrol to hit the "grim milestone" of 150p in coming days.

Prices vary across the country and some forecourts are already charging for fuel at above that average level.

Higher fuel prices have been among the factors behind Britain's cost of living surge - helping push inflation to a three-decade high.

A recent increase in the oil price after Russian troops entered Ukraine has further added to the upward pressure.

Brent crude surged to $99.50 a barrel earlier this week, its highest level since September 2014, and analysts expect it to push well beyond the $100 level.

Worries about the capacity of oil producing countries to meet resurgent demand have also been behind the increase over recent months.

Demand for oil had plunged during lockdowns leading the price to slump below $20 a barrel in 2020 but it has since rallied sharply with the return of economic activity.

Victoria Scholar, head of investment at Interactive Investor, said: "Strong market fundamentals coupled with the possibility of a Ukraine invasion by Russia means that oil entering triple digits is still very much on the cards."

RAC fuel spokesman Simon Williams said: "Petrol is sadly creeping ever closer to the shocking landmark of £1.50 a litre.

"With a tank of petrol now costing over £82 and diesel nearly £84, drivers will be wincing every time they go to fill up.

"And those on lower incomes who rely on their cars will be starting to suffer."

While fuel prices are at a record high, it was more expensive to fill up in real terms when they previously peaked in April 2012.

The 142p cost of a litre of petrol at that time is equivalent to 178p at 2021 prices, according to the Bank of England's inflation calculator.

Motoring groups have in recent months accused some retailers of taking a bigger profit cut than usual from fuel - suggesting that it was not only global oil prices driving up motorists' costs.

[dutchman]

The cheapest petrol stations in Coventry as Ukraine war threatens to push up prices



Russia's bloody invasion of Ukraine is a crisis for its people - but it's also affecting us here at home in less urgent economic ways.

Among them is the likelihood of a sharp increase in petrol prices, with Russia the second biggest exporter of crude oil, and also the world's largest natural gas exporter.

The cost of crude oil hit a seven-year high on Wednesday (February 23), reaching $105 at one point before dropping down to $98 a barrel.

The UK does not import anywhere near as much crude oil from Russia as some of its European counterparts, such as Germany, Italy and Hungary.

It's said to import around 6% of its crude oil and 5% of its gas from Russia, with Norway acting as the UK's main supplier of both materials.

But there are concerns economic sanctions could constrict supplies and drive up prices worldwide. The price of UK natural gas futures soared nearly 60% on Thursday.

Motoring groups the RAC and AA said average petrol prices hit a record high of nearly 149.5p on Wednesday, with diesel at 152.83p.

The RAC said that if the oil price reached $110 a barrel the average price of petrol in the UK could hit £1.55 a litre.

According to petrolprices.com, the turmoil in eastern Europe is yet to impact on rates at forecourts in Coventry. For how long it will stay that way is not clear.

Indeed, one garage - the Costco in Canley - appears to have dropped its cost of unleaded to a level not seen in the city since late last summer.

Here's a list of the ten cheapest stations in Coventry for unleaded petrol: (petrolprices.com - February 25)

1, Costco in Torrington Avenue, Canley - 135.0p per litre

2, Sainsbury's in Austin Drive, Courthouse Green - 143.9p per litre

3, Asda in Brade Drive, Walsgrave - 144.7p per litre

4=, Asda in London Road, Abbey Park - 145.7p per litre

4=, Morrisons in Skipworth Road, Binley - 145.7p per litre

6=, Sainsbury's in Herald Way, Canley - 145.9p per litre

6=, Tesco in Lynchgate Road, Cannon Park - 145.9p per litre

6=, Tesco in Phoenix Way, Rowley's Green - 145.9p per litre

6=, Tesco in Hinckley Road, Walsgrave - 145.9p per litre

10, Morrisons in Holyhead Road, Coundon - 146.7p per litre

[dutchman]

It's over 150p at the Esso station in the Butts Road and diesel is 156p!

[dutchman]

Butts Road service station this evening (Friday)...