There is no end in sight to rising fuel prices but supplies are “stable”, according to an industry body.
The Petrol Retailers Association (PRA), which represents the bulk of UK operators, told Sky News that price increases which the forecourts are facing rose sharply again last week and would continue to feed through to the pumps.
It pointed to data from S&P Global’s Platts division that showed diesel continuing to bear the brunt of wholesale hikes, rising by $258 a tonne over the course of the week on average.
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The figure for petrol was up by $2.
Diesel prices are more exposed to upwards pressure because the country imports the vast majority of what it uses while most petrol is refined domestically.
There is increased competition for diesel globally due to the squeeze applied to supply from the Middle East war.
The PRA’s executive director, Gordon Balmer, said: “There is no suggestion of shortages. Supplies are stable.”
But he added: “(Pump) prices will continue to rise”, as retailers buy their fuel stocks over the coming weeks.
Data is expected later on where average pump costs are.
The RAC motoring group said last Friday that petrol had jumped by 12p a litre since hostilities began at the end of February.
