Petrol prices edge higher again

14/07/11

Average petrol prices have risen more than 0.5p to 134.72p a litre over the weekend, following a drop earlier in the month, new figures released by the AA have shown.

Diesel prices have reached 138.75p a litre, also up more than 0.5p.

A weaker pound and a near five dollar a barrel rise in Brent crude oil cost on July 7 due to growing speculation from investment banks pushed petrol and diesel prices up, according to the AA.

Fuel firm Jet withdrew from the west country of England due to poor sales volumes, the AA said.

According to the mid-monthly fuel price figures released by the AA, Jet is one of the non-supermarket retailers in the UK selling petrol and diesel at the lowest rate.

Edmund King, president of the AA, said: "Yet again we see another major swing of the fuel price pendulum with the stock market speculators gleefully predicting oil prices everybody else knows will raise inflation, cripple consumer confidence and derail economic recovery."