Petrol prices reach new high as drivers warned of more rises to come
Oil surges after Iran strikes – what next for petrol prices and money?
Petrol prices across the UK have reached their highest level since December 2022, with the average cost of a litre now standing at 158.5p.
The recent surge in prices is attributed to volatility following the conflict in the Middle East, which began on 28 February.
The RAC warns that unleaded petrol is likely to increase further to at least 160p per litre in the coming weeks.
Conversely, diesel prices have seen a drop of nearly 6p to 185.92p, though retailers are urged to pass on further wholesale savings to drivers.
The rise in pump prices since the Middle East conflict began has cost UK motorists an estimated £2.9 billion, and Chancellor Rachel Reeves is reportedly expected to abandon plans to increase fuel duty from September.
