Panic at the petrol pumps triggered a 27 per cent annual rise in Visa card spending at UK service stations, a report said last Wednesday.

Consumer spending generally last month was 0.4 per cent higher than in February, the largest rise in six months, but three quarters of this increase was due to drivers stocking up on fuel, according to the expenditure index compiled by Visa.

Visa card spending alone at UK service stations was up 22.7 per cent in March compared with the previous month, and by 27.2 per cent year-on-year. The study said it was a “rare occurrence” that one consumer trend should have such a large impact on spending generally.

But household spending overall remained “subdued” the report said, with year-on-year household spending showing a 1.7 per cent fall.

Steve Perry, commercial director at Visa Europe, said: “Last week’s petrol panic had a tangible impact on overall consumer spending in March as drivers sought to stockpile fuel.

“Consumer spending in March was 0.4 per cent higher than in February and 0.3 percentage points of this increase was as a result of spending at petrol pumps.

“Unadjusted domestic Visa card spending at UK service stations was up 22.7 per cent in March compared against February.”

Spending on Visa cards accounts for £1 (€1.2) of every £3 (€3.6) spent in the UK. The figures in the index generally are based on spending on Visa cards, but they are then adjusted to reflect consumer spending generally, not just that on Visa cards.

They also showed that while face-to-face spending rose by 0.6 per cent year-on-year, online spending fell by 2.7 per cent and mail order and spending over the phone dropped by 6.6 per cent.