• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 1 day "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 5 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 11 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 3 days The Federal Reserve and Money...Aspects which are not widely known
  • 1 day "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 7 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 10 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 11 days Goldman Betting on Cryptocurrencies
  • 14 days Сryptocurrency predictions

Record UK Gasoline Prices See Biggest Daily Surge In 17 Years

UK gasoline prices continue to set records, with the daily price jump between Monday and Tuesday at its highest in 17 years, RAC, the UK’s longest-serving motoring organization, says.

“The average price of petrol endured its biggest daily jump in 17 years by going more than 2p (2.23p) a litre on Tuesday (7 June), taking it to nearly 181p a litre (180.73p),” RAC fuel spokesperson Simon Williams said as carried by Auto Express.

Gasoline prices were at a record high of $2.27 (£1.81) per liter, or around $8.60 per U.S. gallon, on Tuesday, according to data from RAC Fuel Watch, which expects prices to continue rising in the near term. 

“These are unprecedented times in terms of the accelerating cost of forecourt fuel. Sadly, it seems we are still some way from the peak,” RAC’s Williams said.

A full tank of gasoline for a typical family car has now jumped to $125 (£99.40), up from $120 (£95.16) at the start of last week. The £100 per full tank mark could be reached as soon as on Thursday, analysts say.   

“With analysts predicting that oil will average $135 a barrel for the rest of this year drivers need to brace themselves for average fuel prices rocketing to £2 a litre which would mean a fill-up would rise to an unbelievable £110,” RAC said earlier this week.

The new record highs in gasoline prices add to the cost-of-living crisis in the UK where energy bills are set to surge this autumn.

Gasoline prices are soaring in the United States, too. The average gasoline price in America was $4.955 a gallon on June 8, up by a massive $0.30 jump in one week.

Gasoline prices set a new record for the 10th straight day and Americans are now spending over $700 million more per day on gasoline versus a year ago, Patrick De Haan, head of petroleum analysis for fuel-savings app GasBuddy, said on Wednesday.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News