Urgent UK petrol and diesel price warning as oil rockets above $100 a barrel
The wholesale price of oil rose higher than $100 a barrel for the first time since July.
Petrol and diesel car owners face paying even more at the pumps as wholesale oil prices ramp up. Brent Crude rose higher than $100 a barrel for the first time since July after the latest round of strikes in the Middle East war.
Multiple Iranian tankers were struck in response to more attempted missile attacks on a Navy warship. The increase in wholesale costs is now having a knock-on effect at petrol stations, with prices already on the up.
The average price of unleaded fuel rose to 166.2p per litre on Tuesday, hitting the highest level in four years, while diesel reached an average of 187.7p, its highest since May.
According to the RAC, the average price of unleaded increased by 5p a litre in just the last week alone, hiking the cost of filling a family-sized car by around £2.75. According to RAC Fuel Watch, unleaded petrol, super unleaded and diesel costs are “likely to rise” further.
The AA’s Luke Bosdet said: “Once again, with petrol wholesale costs shooting up to their highest since the Ukraine war, we can see average pump prices wasting no time in reflecting that.”
Drivers are having to dig “ever deeper into their pockets every time they fill up”, says Rod Dennis, senior policy officer at the RAC, adding there was no sign of any relief as he called on Chancellor John Healey to help.
Mr Dennis said: “The latest price rises throw into sharp focus just how exposed UK drivers can be to events thousands of miles away, and will likely increase calls for the Chancellor to demonstrate support for households already struggling with the rising cost of living.”
The AA found that Northern Ireland is again the cheapest place for fuel in the country, with unleaded petrol at 156.1p per litre and diesel at 177.8p per litre.
