Where to find the cheapest petrol in Suffolk as prices hit all-time high
- Credit: PA
Petrol prices at Suffolk forecourts have surged as figures revealed the cost of fuel nationwide has hit an all-time high.
The average UK price of petrol reached 142.94p a litre on Sunday — beating the April 2012 record by 0.46p.
Meanwhile, diesel prices hit 146.5p a litre, short of its all-time high of 147.93p.
According to PetrolPrices.com figures updated on Sunday, the cheapest petrol in Ipswich is at the Sainsbury's garage in Felixstowe Road at 134.9p, with diesel at 137.9p.
But prices elsewhere in Suffolk are comparatively higher — with Bedingfeld Way's Sainsbury's station in Bury St Edmunds the cheapest in the town for petrol at 138.9p.
Lowestoft's cheapest is at the Gulf garage in Yarmouth Road at 139.9p, while the lowest price in Felixstowe is at the Esso in High Road West at 142.9p.
Oil prices have soared since the beginning of the year from around 50 dollars per barrel in January to 85 dollars today.
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The rise has coincided with the reopening of economies across the world from Covid-related lockdowns.
The price rises come a month after a number of petrol stations in Suffolk sold out of fuel as motorists formed queues outside forecourts.
Simon Williams, RAC fuel spokesman, said: "This is truly a dark day for drivers, and one which we hoped we wouldn’t see again after the high prices of April 2012.
"This will hurt many household budgets and no doubt have knock-on implications for the wider economy.
"The big question now is: where will it stop and what price will petrol hit? If oil gets to 100 dollars a barrel, we could very easily see the average price climb to 150p a litre."
In 2012, when the last record was set, the price of a barrel of oil had reached 117 dollars.
But today the exchange rate between the pound and the dollar is lower, making it more expensive for British companies to buy coal.
Meanwhile, the price of ethanol, which is mixed into the UK's petrol, has soared by 80% since 2012, the RAC said.