Rising petrol and diesel costs have been in the news a lot recently, and the conflict in Ukraine looks set to add to these concerns.
On 7 March fuel prices hit a UK high, this comes after the price of oil rose significantly to $139 per barrel.
On 8 March, a ban of Russian oil was confirmed by the UK government, and imports are to be phased out by 2023.
This decision could have another impact on the price of fuel at our pumps.
The cut of 5p on fuel duty has lessened the burned slightly for motorists, but prices are still very high.
As of 8 May, the average price of a litre of petrol in the UK was 164.52 pence whilst the average for a litre of diesel was 178.90 pence.
This is according to the RAC.
Why are fuel prices rising?
The cost of fuel at pumps is mostly influenced by the cost of oil.
This cost has risen sharply in the 12 months from January 2021, rising from roughly $73 per barrel then to in excess of $134 per barrel in February 2022.
Fuel companies are struggling to keep up with the demand in fuel, which has now returned to pre pandemic levels having dropped during the coronavirus crisis.
This week, there has been calls to cut VAT on fuel as petrol prices are expected to hit £1.60.
Where are some of the cheapest filling stations to get petrol in Birmingham?
Costco Birmingham
Price: 158.7p per litre
Address: Heartlands Parkway B7 5SA
Opening times: Monday-Friday 6am-9.30pm, Saturday 6am-8pm, Sunday 7am-6pm
Please note this price is exclusive to Costco members only
Tesco West Bromwich
Price: 161.9p per litre
Address: 46 New Square, West Bromwich B70 7PR
Opening hours: 24/7
Asda Barnes Hill
Price: 162.7p per litre
Address: 48 Barnes Hill, Birmingham B29 5UW
Opening hours: 24/7
Asda Minworth
Price: 162.7p per litre
Adress: Walmley Ash Rd, The Royal Town of Sutton Coldfield, Minworth, Sutton Coldfield B76 1XL
Opening hours: 24/7
Asda Great Bridge
Price: 162.7p per litre
Address: Brickhouse Ln S, Tipton DY4 7HW
Opening hours: 24/7
Sainsbury’s Castle Vale
Price: 160.9p per litre
Address: Castle Vale Retail Park, Chester Rd, Castle Vale
Opening times: Monday-Saturday 5.30am-10pm, Sunday 7.30am-9pm
Sainsbury’s Oldbury
Price: 160.9p per litre
Address: Freeth St, Oldbury B69 3DB
Opening times: Monday-Friday 6am-11pm, Saturday 6am-10pm, Sunday 6am-11pm
Sainsbury’s Northfield
Price: 161.9p per litre
Address: Frankley Beeches Rd, Birmingham B31 5AA
Opening hours: Monday-Saturday 7am-10pm, Sunday 10am-4pm
Sainsbury’s Selly Oak
Price: 162.0p per litre
Address: Aston Webb Blvd, Selly Oak, Birmingham B29 6SJ
Opening hours: Monday-Sunday 6am-12am
Where is the cheapest place to get diesel in Birmingham?
Costco Birmingham
Price: 170.7p per litre
Address: Heartlands Parkway B7 5SA
Opening times: Monday-Friday 6am-9.30pm, Saturday 6am-8pm, Sunday 7am-6pm
Please note this price is exclusive to Costco members only
Asda Barnes Hill
Price: 174.7p per litre
Address: 48 Barnes Hill, Birmingham B29 5UW
Opening hours: 24/7
Asda Minworth
Price: 174.7p per litre
Adress: Walmley Ash Rd, The Royal Town of Sutton Coldfield, Minworth, Sutton Coldfield B76 1XL
Opening hours: 24/7
Sainsbury’s Castle Vale
Price: 174.9p per litre
Address: Castle Vale Retail Park, Chester Rd, Castle Vale
Opening times: Monday-Saturday 5.30am-10pm, Sunday 7.30am-9pm
Sainsbury’s Oldbury
Price: 174.9p per litre
Address: Freeth St, Oldbury B69 3DB
Opening hours: Monday-Friday 6am-11pm, Saturday 6am-10pm, Sunday 8am-8pm