UK petrol prices hit highest level since 2022 - as 20 million drivers prepare to hit the road for record August bank holiday getaway

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The average price of unleaded has climbed to 161.6p a litre - the highest since November 2022, when it soared in the aftermath of Russia’s invasion of Ukraine.

Diesel is now averaging 183.4p a litre, its highest level since the start of June, according to the AA.

It comes as millions prepare to get behind the wheel for the bank holiday weekend in England, Wales and Northern Ireland.

The RAC has warned motorways and major roads could see their busiest bank holiday since its records began in 2015.

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An estimated 20 million car journeys will be made between today and Monday, with Friday expected to be the worst day for congestion, when more than 4.1 million cars are forecast to hit the road.

The rise comes just weeks after the Competition and Markets Authority accused the road fuel sector of a “lack of effective competition”, warning some retailers had been too slow to pass falling wholesale diesel costs on to drivers.

Wholesale petrol prices dropped by more than 10p a litre between late July and early August, before rebounding amid renewed tensions involving the US and Iran.

They now stand at around 68.5p a litre - still below the peak of more than 72p seen in late April and early May.

But drivers are paying almost 2p a litre more at the pumps than they were at the end of May, when petrol averaged 159.7p.

Luke Bosdet, the AA’s spokesman on road fuel prices, said: “In many ways, UK pump pricing is back to its worst: too often over-priced and uncompetitive, with too many communities denied road fuel at a reasonable price.”