Petrol drivers have been given another blow, with the cost of fuel increasing for the fourth consecutive month.
According to figures published by the RAC, the cost of petrol has increased by 5p per litre since the start of October.
Simon Williams, Head of Policy at the RAC, highlighted that, whilst the increase may initially seem small, it is causing drivers to spend around £3 more each time they visit the petrol station.
He explained: “It’s not been a good start to 2025 for drivers at the pumps with prices going up for the fourth month in a row. Sadly, filling up is now nearly £3 more expensive than it was at the start of October.
“We hope this trend won’t continue and that prices drop back down again. Much, of course, depends on global oil supply and demand.”
During January 2025, the RAC found that the average price for petrol was 139p per litre, whereas diesel typically cost motorists 145.7p per litre.
Whilst neither figure is the most expensive motorists have seen, with petrol briefly being sold at 191.5p per litre following the Russian invasion of Ukraine in 2022, they could still see drivers charged between £2 and £3 more each time they fill up their tank.
As a result, high-mileage drivers who burn a tank of petrol or diesel each week may be faced with a £156 price rise if the cost of fuel does not decrease.
The main reason why the cost of petrol and diesel fluctuates is due to the cost of crude oil. Oil prices spiked for several days in mid-January, with a barrel costing more than $80 (£65).
The cost of crude oil typically changes due to factors including political instability in oil-producing regions, which can impact the supply of the fuel.
Prices could also be impacted by fluctuations in different currencies, including the US dollar, and demand for the fuel, which is particularly high during winter.
Nevertheless, Simon has high hopes that the cost of petrol and diesel will begin to fall soon, with some experts predicting that it could fall below £60 per barrel in the coming months.
He added: “While the price of oil can be notoriously volatile, there’s reason to think forecourt fuel prices may get cheaper in the coming months as some analysts are predicting an average oil price nearer to $70 (£57) this year.”
Whilst cheaper oil will significantly help to lower fuel prices at the forecourts, the RAC has previously urged retailers to avoid making large profit margins.