Petrol prices rise more than inflation

A customer fuels her car with unleaded petrol at a Morrisons supermarket in Coalville, central England, October 15, 2008.

LONDON (Reuters) - Petrol prices in Britain were up about 5 percent over the past month to mid-February, rising more sharply than the current inflation rate, the Automobile Association said on Wednesday.

The average retail price of unleaded petrol rose 4.3 pence to 90.9 pence per litre from 86.6 pence in mid-January.

"Petrol prices have risen by nearly 5 percent in the past month, compared to the current UK inflation rate of 3 percent," the association said in a press statement.

On the key wholesale oil product market, petrol prices have risen more sharply than crude oil over the past month.

Industry analysts have said that was because of relatively low levels of petrol in Europe and the United States, the key gasoline export market for European oil companies.

On the other hand, inventory levels of middle distillate products, such as diesel, have been higher than last year.

The Automobile Association said the average diesel price rose more modestly.

Diesel rose by 2.1 pence to 100.8 pence per litre in mid-February from 98.7 pence in mid-January.

The price difference between unleaded gasoline and diesel fell 9.9 pence a litre from 12.1 pence over the same period.

(Reporting by Ikuko Kao; Editing by Marguerita Choy)