Petrol price stubbornly high - Confused.com

21/10/11

By Chris Gibbings

AA figures have shown the cost of petrol is staying "stubbornly high" even though Libyan oil has begun production again, and more rises are on the cards as inflation grows.

Average prices were 134.51p a litre in the middle of the month, and were 135.61p a month beforehand, with diesel averaging 139.65p a litre compared with 139.62p in the middle of September.

Petrol averaged 135.50p a litre from April to mid-October and diesel 139.98p, with prices peaking at May's record average of 137.43p for petrol and 143.04p for diesel.

Petrol dropped to 133.68p and diesel 137.69p in the first weekend of July. Last year's averages for the summer were 118p for petrol and 120.25p for diesel.

The result is that a typical two-car family spent £241.54 more on petrol this summer compared with 2010, the AA statistics indicate.

The high prices come despite Libyan oil production restarting and a forecast of lower global oil demand by the International Energy Agency, said the AA.