It comes as Europe and the UK suffer a huge energy crisis as business resumes following the pandemic, with supplies failing to meet demand. Prices have been further affected by tension and uncertainty caused by the Russian invasion of Ukraine as oil sanctions hit Moscow-backed supplies.
Across motorway service stations up and down the country, prices have hit an eye-watering 187.77pa litre.
With such high prices, an average family car with a 55-litre fuel tank now faces paying around £100.52 to fill up.
Drivers in larger cars such as a Range Rover, which holds 90 litres, of fuel can expect to pay just shy of £164.50.
The extremely high prices set by petrol stations is much higher than the UK average price per liter.
Forecourt owners on motorways claim high rent, staff salaries and delivery charges bump up prices forcing them to charge extra.
The Royal Automobile Club, RAC, has advised drivers to shop around before they fill up.
The organization recommends filling up in supermarkets, most of which are around 4p per liter cheaper.
US wholesale giant Costco also provides cheaper fuel.
With prices on the cash and carry forecourt at around £1.56 per liter, the savings are more than 30p a liter cheaper than motorway services.
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The RAC has attempted to assist motorists by placing pressure on the Government.
A spokesman for the group, Simon Williams, urged Rishi Sunak to think about taxes on petrol.
He said: “Drivers badly need a break from these relentless daily rises.
“They will be looking to the Chancellor to end their misery by cutting duty or VAT.
“Simply reiterating fuel duty has been frozen at 58p a liter simply isn’t going to cut it.”
Mr Williams said wholesale fuel rates may fall in the next week, but added: “The big question is how keen retailers will be to pass on those savings at the pumps, as they will no doubt be extremely conscious of protecting themselves from any more rises that could suddenly materialize.”
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The price of petrol in the UK is among the most expensive in the world.
Crude oil is bought by retailers on the global market, where prices might fluctuate with supply and demand. Exchange rates are likely to have an impact on prices too.
According to PetrolPrices.com, the cost of crude oil accounts for about 20p out of a £1 liter of fuel.
Tax makes up for most of the remainder of the costs.
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In the meantime, motorists are being advised to consider advising to save on fuel as prices soar.
According to Confused.com, removing excess weight, checking tire pressure, going easy on the accelerator and turning off the engine while stationary is among some of these tips.
It has been suggested that by turning off the engine while not moving, drivers could save up to £150 per year.
