Asda hikes average cost of petrol by 5p in just 24 hours as fuel prices continue to soar

dailyrecord.co.uk:

Asda raised the price of petrol by an average of almost 5p a litre in just 24 hours - the highest daily rise in 17 years. The supermarket chain made the decision as the cost of fuel continues to spiral out of control, with drivers facing eye-watering costs at the pumps.RAC says the average price of a litre of petrol is 180.73p, while diesel is 186.57p per litre.

It is estimated it will cost around £99.40 to fill up a 55-litre family petrol car or £102.61 for diesel. The cost of petrol has risen by more than 20 per cent since the start of the year, while the cost of diesel has soared by 24 per cent during the same period.RAC has previously expressed fears that average fuel prices could rise to £2 a litre this summer.The organisation’s fuel spokesperson Simon Williams said: “A full tank of unleaded has now shot up to £99.40, moving us closer to the milestone £100 petrol fill-up - an unfortunate landmark we may reach as soon as today.“Asda hiked its average petrol price nearly 5p a litre in a single day, which is unheard of.“These are unprecedented times in terms of the accelerating cost of forecourt fuel.”Mr Williams added the UK is “some way from the peak” as it will take several days for an unexpected fall in wholesale costs on Tuesday to be reflected in pump prices.

Commenting on the price rises at Asda, a spokesperson for the supermarket told the Mirror : “The wholesale price of fuel has increased at an unprecedented rate, rising by over 9ppl in the last week. "Motorists trust us to provide the best value at the pumps and we will do all we can to minimise the impact of rising wholesale prices on our customers." Don't miss the latest news from around Scotland and beyond - Sign up to our daily newsletter here.