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UK fuel prices hit record highs

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A reduction in fuel costs in Europe has not trickled down to motorists in the UK who are paying record prices for both petrol and diesel, according to the AA.

Petrol costs have gone up 0.54p per litre from mid-January to a record high of 128.81p a litre, while diesel prices have surged 1.26p to 134.01p per litre, the AA said.

Drivers in the UK, who are already burdened with the VAT increase and high car insurance costs, would have received some respite had the 2p decline in market costs of fuel been passed on to them.

While a fall in north-west Europe wholesale costs of petrol led to lower European prices, the UK saw fuel costs surge to record levels, the AA said.

The average cost of petrol at pumps in Europe on February 7 was down 3% from three weeks ago despite wholesale values climbing back, while petrol price in the UK rose 0.8%, the group added.

Northern Ireland has the most expensive UK petrol (129.9p a litre) and diesel (135p). Drivers in Yorkshire and Humberside once again enjoyed the cheapest prices, with petrol averaging 127.8p a litre and diesel 133.2p.

The AA said supermarket fuel prices varied by up to 4p a litre, with costs something of a "postcode lottery".

© Press Association 2011