The price of petrol rose to its highest level in the past five months, increasing by 4p in February showing the impact of inflation on costs.
Unleaded went up from 140.75p at the start of the month to 144.76p at the end of February while diesel increased by nearly 5p per litre adding more than £2 to the price of a full tank.
Diesel jumped from 148.53p to 153.22p increasing the cost of filling up a 55-litre tank by £2.60 to £84.27.
The hikes have been driven by oil reaching historic heights at $80 (£63) a barrel on February 8 and staying there for the rest of the month.
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Drivers endured the highest monthly average fuel price increases since September 2023
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According to RAC data, Northern Ireland is the cheapest nation with unleaded being sold 5.6p cheaper at 139.19p and diesel 4.6p cheaper at 148.62p.
Petrol comes in at 1.8p cheaper when bought at one of the big four supermarkets, while diesel is only a penny cheaper.
There is also an 18p-per-litre difference between the supermarket forecourts selling the lowest and highest priced unleaded, both of which are at Asda sites.
The lowest price was 136.7p at the supermarket sites in Middleton, Leeds, and Ballyclare to the north of Belfast while the most expensive was 163.9p at Parkgate Road in Chester.
For diesel, the gap between the cheapest and most expensive supermarket fuel stations showed a difference of 21p.
Tesco offered drivers the lowest price at 142.9p at Banbridge in Northern Ireland, while Asda had the most expensive at 163.9p, again at Parkgate Road in Chester.
Simon Williams, a spokesperson for RAC fuel, said: “Our data shows that in February, drivers endured the highest monthly average fuel price increases since September 2023.
“What’s more diesel’s 4.7p rise was the 14th largest since the year 2000 and the 4p that went on to petrol was the 17th biggest increase since the start of the century.”
Looking at average margins across the whole of the UK, retailers are currently taking around 10p a litre on average across both petrol and diesel, Williams explained.
The supermarkets in particular have now noticeably upped their margins to 8p a litre compared to 6p in 2019.
However, this price is still lower than the last two years when it was around 9.5p.
When analysing the supermarkets’ prices through the Competition and Markets Authority open data scheme, Williams said it is very clear there are big differences between the cheapest and most expensive prices charged for both petrol and diesel.
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Tesco offered drivers the lowest priced at 142.9p at Banbridge in Northern Ireland
PA
He added: “Frighteningly, at the end of February there was an 18p difference between the country’s cheapest supermarket unleaded and the dearest, and for diesel, it was 21p.
“To put this into context, it means the cost of filling a family-sized car can be up to £10 more expensive in one part of the country than another.
“It’s important to remember this is the very same product being charged at vastly different prices based just on location.
“We hope that the eventual introduction of the monitoring body recommended by the Competition and Markets Authority will help to bring an end to this postcode lottery that treats drivers so unfairly.”
