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Petrol Prices At Eight-Year High Says RAC

Isle of Wight drivers are facing an unprecedented hike in petrol prices, with the cost of filling up a family car now £10 dearer than it was in November last year.

According to data from RAC Fuel Watch, eight months of price hikes mean unleaded petrol prices are now at an eight-year high. 

In June, a litre of unleaded petrol rose by 2.7p in the South, from 129.52p to 132.19p, the highest it has been since October 2013. Diesel went up 2.5p, from 131.79p to 134.32p – its most expensive price in two years.

The latest hike has been caused by a 10% rise in the price of oil in June.

On the Island, prices at Asda and Morrison's are 126.7p for unleaded, while, at Sainsbury's, it is 126.9p (Figures correct as of June 30th). 

RAC Fuel's Simon Williams:

“June proved to be a shocking month for drivers with not just the eighth straight monthly rise at the pumps, but a return to 132p a litre petrol – something we haven’t seen since October 2013.

"And if an 18p a litre hike in cost over eight months isn’t bad enough it’s hard to see the increases coming to an end as the price of oil seems to be going up and up, with $6 being added to a barrel in June alone. Compared to a year ago oil is now $35 more expensive. What’s even more worrying is that some analysts are predicting an oil deficit by the end of the year, which could mean further relentless price rises in the coming months."

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