Drivers hit by record petrol price hike and how much you will pay

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Petrol prices have increased in the UK by an average of 22p per litre since May last year.

The average cost of petrol in the country is now 129p per litre, with experts saying the rise can be explained by lower road use and the rising cost of oil.

The rise in prices marked the biggest year-on-year increase for five years, according to the RAC Foundation.

It comes as Brits take to the roads on one of the busiest days of the year, with many looking to get away for the bank holiday.

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The RAC Foundation also stated the cost of petrol had risen for the sixth month in a row in April to an average 127p per litre, reports the Express.

They believe May is likely to be the seventh consecutive monthly increase in petrol pump prices.

Speaking to The Telegraph, a fuel spokesman for the RAC breakdown firm shared the underlying cost to petrol stations has fallen recently.

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However, they added it is unclear whether other factors might mean the costs do not get passed on to motorists.

He told the outlet: “We have had six months of rising prices and we will probably have a seventh.

“It could be coming to an end, but the smaller retailers have been squeezed.”

Last month, RAC fuel spokesman Simon Williams told website Motor1 the recovery from the coronavirus pandemic was fuelling price rises.

However, he said things would be worse were it not for the relative strength of the British currency relative to the dollar, the currency in which oil is traded.

He told the website: “April marks six months of rising petrol prices and sadly there’s no end in sight as oil is getting perilously close to hitting $70 a barrel – something we haven’t seen for more than two years.

“If oil breaks this threshold, it will inevitably spell more bad news for drivers at the pumps.

“With lockdown restrictions easing, it’s very frustrating for drivers that they’re now having to contend with even higher fuel prices just at the point where many will be driving a lot more.

“But unfortunately, it’s the very fact people are driving more that’s causing petrol prices to go up as demand for oil – and in turn fuel – begins to outpace supply.”