Fuel prices increased dramatically in October, with diesel rising by more than 10p per litre,
October also represented the largest ever price disparity between unleaded and diesel, with the gap reaching 24p per litre.
Barrel prices increased 7% from $88.86 to $94.83, reaching a high of $97 on 27 October, which, when taking the weak performance of the pound into account, ramped up prices. “After three months of falling pump prices, October was a severe shock to the system for drivers with the unwelcome return of some scary numbers on forecourt totems.
“Looking at the wholesale market, we strongly hope the price should stabilise. And those with petrol cars should actually see forecourt prices start to go slightly the other way as the wholesale cost of unleaded appears to have peaked – at least for the time being – in mid-October.” Even more aggressive price rises were evident on motorway forecourts, with petrol jumping by almost 8p from 182.83p to 190.48p, and diesel by 12p, from 192.74p to 204.24p.
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