DRIVERS have been stung by one of the biggest monthly fuel price rises in 23 years — with filling up now up to £4.40 dearer.
Petrol rocketed by nearly 7p a litre in August and diesel by 8p as the wholesale cost of oil rose.
The RAC’s Fuel Watch tracker shows that the latest fuel price rises have been eclipsed only three times since 2000Alamy
The RAC’s Fuel Watch tracker shows the rises have been eclipsed only three times since 2000 — the last time immediately after Russia invaded Ukraine last year.
But, in a glimmer of good news, for once the rises appear to be a fair reflection of increasing wholesale costs — rather than a cover for driving up profits.
Supermarkets were scolded earlier this year for keeping pump prices high even when costs fell — overcharging drivers by £900million.
A Pumpwatch name-and-shame list is now being introduced.
The RAC, which has an app listing best prices area by area, said: “August was a big shock to drivers.
“But it could have been far worse.
“All we can hope is that this move by many big retailers back to fairer forecourt pricing remains in place when wholesale costs go downagain.
“Only time will tell.”
Increased transport costs also risk driving up supermarket prices, hitting Rishi Sunak’s flagship pledge to halve inflation to five per cent by the end of the year.