Fuel prices have climbed sharply, with petrol now averaging over 150p per litre for the first time since May 2024. Diesel prices have also risen, crossing 177p per litre.
According to RAC, the increase links directly to ongoing tensions in the Middle East following military actions involving Iran, the United States, and Israel.
Oil Prices Push Fuel Costs Higher
Global oil prices continue to fluctuate. The cost of Brent Crude recently moved above $110 per barrel, driving fuel prices upward.
Although Donald Trump delayed plans to target Iranian energy facilities, markets remain unstable due to uncertainty around supply.
Experts explain that for every $10 increase in oil prices, fuel costs at the pump can rise by around 7p per litre.
Drivers Face Higher Travel Costs
The price hike comes just before a busy travel period, increasing the cost of road trips. Petrol now costs about 17p more per litre compared to pre-conflict levels, while diesel has jumped by 35p.
The RAC has advised drivers to compare fuel prices at different stations to reduce expenses.
Supply Pressure and Rising Demand
Retailers report increased demand for fuel. Asda, one of the country’s largest fuel sellers, said some petrol pumps temporarily ran out due to high demand.
Executive chairman Allan Leighton stated that demand has exceeded supply in certain areas. However, he confirmed that stations remain open and supplies should stabilize after new deliveries.
Industry Response and Profit Concerns
The Petrol Retailers Association said the overall supply situation remains stable. Industry leaders continue to work closely with authorities to monitor stock levels.
Retailers have also rejected claims of profiteering. Leighton stated that rising costs have reduced profit margins rather than increased them.
Market Uncertainty Continues
Oil prices have swung widely in recent weeks, reflecting uncertainty over supply routes and geopolitical risks. Analysts note that mixed signals from global leaders add to market confusion.
As long as tensions persist, fuel prices are likely to remain volatile.
