Pump price of unleaded petrol climbs to highest level this year

The price of petrol on forecourts has risen to its highest level so far this year, figures show.

The average pump price of a litre of unleaded petrol stood at 151.7p as of September 4, up from 150.7p the previous week.

It is the seventh weekly jump in a row.

The rise is being driven by an increase in the cost of oil, which has gone up by nearly 12 US dollars a barrel since the start of July to more than 88 US dollars, due to producing group Opec+ reducing its supply.

This has caused the wholesale cost of fuel – what retailers pay – to go up, which in turn has been passed on to drivers.

The average price of a litre of unleaded petrol is now at its highest level since the end of December 2022 and has increased by 9p since early June.

But it is still some way below the peak of 191.6p reached in July 2022.

The average price of diesel has also been rising in recent weeks, climbing from 144.6p a litre in mid-July to 154.7p as of Monday.

All figures have been published by the Department for Energy Security and Net Zero.