If you want to save some money at the petrol pump, then make sure you fill up your tank this weekend as prices are set to soar .
Oil prices are on the up so drivers should stop by the petrol station this weekend to fill up their tanks.
According to the RAC , oil has now reached £45 per barrel, the first time since July 2015.
So motorists should be prepared for an increase as early as next week as retailers look to hand over the 4p a litre rise in wholesale prices, The Mirror reports .
At the moment, on average, drivers are forking out 118.17p a litre for unleaded fuel while diesel car drivers have already seen the cost increase from 120.21p a litre to 120.8p month-on-month.
But a barrel of oil has increased 9% in a month meaning a squeeze on motorists’ budgets is “imminent”, the RAC said.
Simon Williams, the organisation’s fuel spokesman, added: “It’s very worrying - we would expect a rise of a penny or so a litre .
"While it’s difficult to predict how much petrol will go up by, it will go up next week so filling up this weekend is not a bad idea.
"At the start of October there was a 6p saving in the wholesale price of unleaded which retailers eventually passed on to motorists in pump price reductions."
"This month, however, the situation is reversed and the petrol wholesale price has gone up.
“Inevitably, this increase will be passed on to motorists on the forecourt far more quickly than the cuts were made last month, but that is unfortunately the nature of ‘big’ fuel retailing - pass on wholesale rises quickly and cling on to savings for as long as possible," he added.
But with Chancellor Philip Hammond's Autumn Budget less than three weeks away, the RAC is urging him to freeze fuel duty rather than pile on the misery for motorists.
Mr Williams said: “Eyes will switch to the Chancellor who delivers his Budget this month, and with higher wholesale costs filtering down to the forecourts, the last thing they’ll want to see is an increase in fuel duty.
"We urge the Chancellor to resist this and leave the rate unchanged.”
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