The price of petrol on UK forecourts has risen by the most in 17 years, with the cost of filling a family car approaching £100 for the first time.
According to Experian Catalist, a litre of petrol cost an average of 180.73p on Tuesday, an increase of 2.23p from the previous day.
On Wednesday, a similar increase would break the £100 barrier for the average cost of filling a 55-litre family car’s tank.
Diesel prices are also at an all-time high, reaching 186.6p on Tuesday, up 1.4p from Monday. Diesel price increases have a significant economic impact because businesses typically use the fuel to fill vans and lorries.
Prices have risen due to increased demand for fuel around the world, including in China and the United States as Covid restrictions ease.