The average price of petrol in Britain continued to gain momentum and hit a new high to 142.28 pence per liter (ppl), said the motoring group AA on Friday.

A fall in the price of oil, from 126 U.S. dollars to 118 U.S. dollars a barrel since the beginning of April, offered some hope of fuel prices going down.

Yet the average cost of unleaded prices have managed to rise by 4.0 pence per liter from 138.5 ppl to 142.5 ppl.

The latest price rise comes as fuel tanker drivers rejected an offerover pay in a dispute that could lead to strikes.

"Panic buying in March forced some cash-strapped families to spend far more on fuel than their budgets could bear," said AA president Edmund King.

Britain now has the seventh highest petrol price in Europe and the second highest diesel price.

Diesel prices have risen by 2.4 ppl from 145.5 ppl to 147.9 ppl.