Fuel prices climb again after dropping to near four-year lows in May
PUMPED UP Fuel prices climb again after dropping to near four-year lows in May
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FUEL prices are climbing again at the pumps after dropping to near four-year lows in May, stats show.
Unleaded now costs 134.15p a litre on average, up 2p since June 1 — while diesel has risen to 141.21p from 138.39p.
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Filling a 55-litre family car now costs £73.78 for petrol, up £1.06, and £77.67 for diesel, an increase of £1.55, RAC figures revealed.
Supermarket fuel prices rose slightly less, with petrol priced at 130.26p and diesel at 136.67p.
Northern Ireland remains the cheapest region, with unleaded at 128p and diesel at 134p.
The surge follows tensions in the Middle East, which pushed oil prices from $64 to $79 per barrel last month.
Although oil prices have dropped back to $67, costs at the pump remain high.
RAC spokesman Simon Williams criticised retailers for raising prices quickly despite falling wholesale costs.
He said: 'July will be a telling month — will retailers stop raising prices or even cut them?
'Or will drivers be stuck paying more for the foreseeable future?'
The Competition and Markets Authority recently blamed weak competition and high retailer margins for inflated costs.
While prices remain far below record highs from 2022, fuel remains a major expense.
The RAC hopes a Government-backed Fuel Finder scheme later this year will help drivers secure fairer deals.
Mastercard Payout Delay, £310 Car Insurance Hack, and UK Inflation Drop – Money News Today
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Fuel prices are climbing again at the pumps
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Currys clicks
CURRYS reported a 37 per cent jump in pre-tax profits to £162million for the year ending May 3 — driven by strong UK sales.
Group sales of the tech products chain rose 3 per cent to £8.7billion with UK sales up 6 per cent, boosted by growth of its iD Mobile network and AI-related gadgets.
The retailer — which has 708 stores — reinstated dividends with a 1.5p-per-share payout after suspending them last year.
LoveHols in float talk
ONLINE travel agent LoveHolidays is considering a stock market flotation that could value the business at over £1billion.
The firm, which has been owned by private equity group Livingbridge since 2018, is said to be in talks with bankers and has begun initial meetings with institutional investors, Sky News reported.
The company, which specialises in Mediterranean and Canary Island holidays, reported a 20 per cent rise in pre-tax profits to £67.6million on sales of £284million last year.
Livingbridge declined to comment.
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