This increase in price comes as the value of the pound decreases.
Asda, Morrisons, Tesco and Sainsbury’s could be spending up to £5 more when buying a tank’s worth of petrol or diesel, according to new analysis.AA fuel price spokesman Luke Bosdet said: “The influence of the exchange rate is often overlooked when drivers compare oil price movements with those at the pump.
“At the moment, it is critical. Oil and fuel on commodity markets are traded in dollars, which makes the weaker pound very bad news for motorists. “The price of oil is back to the level at the start of the Ukraine war but petrol is 15p a litre more expensive.The motoring organisation calculated that the price of petrol at UK forecourts would be “at least” 9p per litre cheaper if the pound had maintained its mid-February value of 1.35 US dollars, instead of this week’s level of 1.14 US dollars, which was a 37-year low.
The difference in pump prices is adding around £4.95 to the cost of filling up a typical 55-litre family car.Prices on things such as fuel and foreign holidays are expected to rise for Brits over the coming months and years.
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