Motorists in the UK are facing renewed pressure at the pumps as the average price of unleaded petrol climbed by 5 pence per litre over the past week. According to the RAC, the current rate stands at 167.17p per litre, marking the most significant weekly increase since April. Diesel prices have followed a similar trajectory, also rising by 5p to reach 188.63p per litre.
The sharp uptick in fuel costs is directly linked to escalating tensions in the Middle East. Since the onset of conflict between the US-Israel alliance and Iran at the end of February, the disruption to crude oil supplies has sent global energy markets into volatility. Brent crude, the international benchmark for oil pricing, has rebounded to $100 a barrel—its highest level since July—following intensified hostilities.
Recent military developments have further exacerbated market concerns. US forces targeted five Iranian tankers after Tehran attacked one of its warships, while the Iran-backed Houthi movement in Yemen carried out strikes on oil facilities in Saudi Arabia. Although Brent crude remains below the $120 peak seen in April, it sits well above the $70 per barrel level recorded prior to the outbreak of fighting.
Rod Dennis, a senior policy officer at the RAC, highlighted the vulnerability of British drivers to geopolitical events occurring thousands of miles away. With the average cost of a barrel of oil holding at $96 for the week, Dennis noted that surging wholesale prices are rapidly translating into higher costs at the forecourt.
“Drivers are having to dig ever deeper into their pockets every time they fill up, and there’s no sign of any relief yet,” Dennis said. He calculated that the 5p rise equates to an additional £2.75 for a full tank in a typical family car. In response to the ongoing price hikes, the RAC has advised motorists to maximize fuel efficiency and seek out the most competitive stations.
The current petrol rates represent the highest levels seen since September 2022. While diesel prices remain slightly below the 191.54p per litre high recorded in April, the overall trend indicates sustained inflation in fuel costs for consumers.
Leave a Reply