Yahoo Finance UK petrol prices 58% more expensive than global average, study says
As Britain's fuel costs continue to rise an analysis suggests that UK's petrol prices are significantly above the global average as the war in Ukraine continues to drive up rates.
A full tank of unleaded petrol for a typical family car (50 litres) costs the average British driver £81.60 ($106.47), 58% more expensive than the global average cost of £51.72, according to new research from finder.com.
The UK ranked as the 15th most expensive country in the world to buy petrol at 163.2p per litre, based on a global analysis of gasoline prices around the world as of 4 April.
Regionally, the most expensive place to fill up a tank was the South East where just one litre of fuel costs 164p. If the average driver fills a full medium-sized tank in the area, this can amount to £81.98.
Wales is the cheapest region to buy petrol at £80.98 a tank, or 162p per litre, according to the personal finance comparison website.
Read more: Rise in petrol and diesel breaks records despite Sunak's 5p fuel duty cut
"In addition to the current cost of living crisis, the soaring fuel prices are likely to be adding extra pressure for many UK drivers and unfortunately it’s not looking to stall any time soon," said Danny Butler, car insurance specialist at finder.com.
Out of the 171 countries analysed, Hong Kong was the most expensive country in the world for petrol, with one litre costing 219.4p. The average Hongkonger could potentially pay £109.70 for a full tank.
In Europe, filling up a full tank in Iceland, Finland, Monaco and Norway costs between £87 and £95. But the Netherlands was the dearest, where a full tank of petrol costs the average driver £97.40, or 194.8p per litre.
In contrast, Venezuela was the cheapest place in the world to fill up a family car at just 95p, or 1.9p per litre.
This was closely followed by Libya at £1.25, or 2.5p per litre, while those driving in Iran can purchase a whole tank for just £1.95, or 3.9p per litre.
A separate analysis showed that the cost of filling a family car with petrol was a third higher in March compared to a year ago as drivers were hit by the largest monthly spike in pump prices on record. Filling up a diesel car costs 40% more and chancellor Rishi Sunak’s 5p fuel tax cut has done little to help drivers.
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The RAC said the average cost of a litre of petrol in the UK rose by 11.6p to end March at 163.3p. That is the largest increase the RAC has ever recorded in a single month.
The previous biggest monthly increase was in October of last year when petrol prices rose by just over 7p per litre.
