Oil industry halts falling unleaded prices

The six-week drop in unleaded prices in the UK during May and June has come to a halt as downstream operators in the oil industry have put their prices up.

In its latest weekly report on fuel prices, the Department of Energy and Climate Change notes a slight increase in the average cost of a litre of unleaded.

From a cost per litre of 117.88p on June 28th, the fuel now costs 117.91p as of July 5th, an increase of just 0.03p.

However, the previous week also saw a rise, taking unleaded up 0.08p per litre from its lowest point of 117.80p on June 21st.

The latest move takes unleaded to its highest level since June 7th; however, diesel currently costs more than it did at that time.

On June 7th, the cost of a litre of diesel stood at 120.40p, but reluctance to lower prices within the UK oil industry has seen it rise to 120.44p in recent weeks.