We all know that petrol in Bude is very expensive, more so than most other places in the area, with prices much cheaper in Bideford and Barnstaple, and in other parts of Cornwall. It is making us all think before we travel. Along with food price rises, energy price rises, and interest rate rises, many households are very badly stretched at the moment.
The average price of diesel shot up by more than 10p a litre in October – the third biggest monthly increase on record – adding more than £5 to a tank, data from RAC Fuel Watch reveals. The following is their info:
A litre of diesel went from 180.37p to 190.51p making October’s rise second only to the ones seen earlier this year in March (22p – 155.23p to 177.29p) and June (16p – 183.43p to 199.05p) which gave rise to the new all-time high of 199.09p (25 June).
This means it now costs £105 (£104.78) to fill up a 55-litre diesel car. The price of petrol also increased, but only by 4p (3.71p) a litre from 162.67p to 166.38p which means a full tank costs £2 more at £91.51. October also saw the gap between the forecourt prices of diesel and unleaded reach an all-time high of 24p a litre.
The RAC says the price hikes began at the start of the month when oil producer group OPEC+ agreed to cut production by 2m barrels a day. This led to the barrel price going up 7% from $88.86 to $94.83, hitting a high of $97 on 27 October. This combined with the weaker pound made wholesale petrol and diesel – which is traded in dollars – more expensive. The value of the pound did, however, increase by 2% from $1.12 to $1.15 through the month.
The average price of unleaded at one of the big four supermarkets went up 4p from 161.31p to 165.36p; diesel jumped 9p from 178.51p to 187.54p. Motorway petrol increased nearly 8p from 182.83p to 190.48p while diesel rocketed by 12p from 192.74p to 204.24p.
RAC fuel spokesman Simon Williams said:
“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. Those with diesel vehicles suffered most with 10p being added to the cost of a litre in what was the third worst monthly increase on record, but petrol car drivers also saw a 4p-a-litre increase across the country.
“We strongly urge drivers to make sure they always know where they can buy fuel at the lowest prices. Those who assume their local supermarket will be the cheapest may be in for a nasty surprise as the ‘big four’ are currently only a penny cheaper for petrol than the UK average. Diesel, however, is 3p a litre less than the average when bought at a supermarket (except in Bude, it seems).
“We recommend drivers keep an eye on the UK averages on the RAC Fuel Watch website and aim to fill up as far below those prices as possible.