Wales hardest hit by rising petrol prices, experts say
Fuel has reached record levels after the Russian invasion of Ukraine – and prices are expected to rise further. Figures last week showed fuel prices hit a new weekly high, with a liter of petrol costing an average of 152.95p and diesel 158.56p.
These averages are already rising and some garages will be charging over £2 for a liter of petrol within weeks – a shocking increase on last year’s figures. Experts have shared a sneaky gas station hack and 14 other fuel tips to help you save more miles with your money – you can read it here.
And last week, we covered the cheapest gasoline and diesel prices in all six counties, according to RAC Fuel Watch. We also reported that supply issues have left some residents in the dark as people face a fuel shortage.
READ MORE: Cost of living: 13 simple tips to cut big expenses this month
This comes as the average cost of filling a petrol-powered family car climbs to over £90. You can read more about it here. The latest research, by financial experts Advisor Forbesanalyzed new data from the ONS on the cost of living in key areas of the UK, to find out which region was most affected by the spike in petrol prices.
Data revealed that Wales has been hardest hit by rising fuel costs, with 85% of Welsh households saying they are concerned about the increase. In contrast, London, where fuel is most affordable, saw the smallest increase in fuel costs. In London, only 52% of people reported an increase in costs, 24% less than the national average.
Did you struggle with price changes? Let us know in the comments.
A Forbes Advisor spokesperson said: “These data reveal a new and terrifying increase in the number of people facing rising fuel costs, even as petrol prices have soared since last fall.
“The fact that over three-quarters of people (76%) in the UK on average report that their fuel costs have risen is extraordinary, and the factors have coalesced to create the perfect storm for fuel poverty.
“Regional differences in fuel affordability across the UK are striking, with 85% of people in Wales saying their fuel has increased, compared to 52% in London”