Factors such as the wars in Ukraine and Gaza, a cut in production by Russia and Saudi Arabia and rising demand from China have exacerbated the issue.
Petrol prices are increasing to more than 150p per litre for the first time in six months, according to new figures.
AA fuel price spokesman Luke Bosdet said: “Inflation has been heading downwards at quite some speed but petrol’s rebound to 150p a litre leaves a big boulder in the road. “However, road fuel priced above 150p a litre grabs the attention of drivers and will lead some to re-tighten their belts on other spending.”
The figures are based on data from regulator the Competition and Markets Authority analysed by Fuel Prices Online.
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