1. ITV Report

Fuel prices hit two year high

A litre of petrol is now on average 120.01p. Credit: PA

Fuel prices have hit a two year high after the cost of filling up rose a further 2p per litre on average in January.

A litre of petrol is now on average 120.01p while diesel is at 122.30p, up from 111.17p and 111.93p respectively in August last year.

Filling up a 55-litre family petrol car is £9.53 more expensive now than a year ago.

Diesel vehicles have been even harder hit, with the average family car costing £11.69 more to fill up.

But motoring organisation the RAC said drivers were being unfairly hit by the recent price hike as retailers were not passing on wholesale savings to motorists.

RAC fuel spokesman Simon Williams said: "In the last two months 5p a litre has been added to the pump price of both petrol and diesel, which means the cost of filling up is really starting to hurt motorists again.

"But the January rise is harder to swallow as there is a saving from wholesale prices that retailers should be passing on a little faster than they are.

"As the wholesale price stands currently we would be expecting to see average prices come down by over a penny a litre in the next fortnight."