UK Petrol Price Surge Slows

The UK petrol price hit a fresh record Monday, but a slower pace of increases could signal that they finally may be ready to fall.

The average price rose to 191.10 pence on Monday, up half a penny. Diesel hit 198.96 pence, according to the British motoring organization RAC. That’s close to a record set over the past weekend.

Monday’s increase for petrol was the smallest since June 20.

“We strongly hope pump prices have peaked for the time being and will now start to decrease in line with wholesale prices which reduced last week,” RAC fuel spokesman Simon Williams said. “That, however, is the hands of retailers.”