As is typically the case, when crude oil prices rise, the cost at the pump follows suit
The UK's cheapest petrol stations have been revealed, just as fuel prices begin to climb after hitting a four-year low.
According to the latest figures from the RAC, unleaded petrol now averages 134.17p per litre — an increase of 2p from the start of June. This rise means filling a typical 55-litre family car now costs £73.79, a sharp increase of £1.07.
Diesel drivers have been stung by an even steeper price hike, from 138.39p at the start of June to 141.21p at the end of the month — a jump of almost 3p a litre. These figures are up from 132.3p and 138.4p respectively at the end of May, when petrol and diesel prices were at their lowest since mid-2021.
The recent surge in prices is largely attributed to geopolitical tensions. At the end of last month, the war between Israel and Iran disrupted crude oil markets, causing the price of a barrel to soar from around $64 (£47) to nearly $79 (£58) by June 19.
An Asda branch topped the cheapest petrol stations in the UK according to the Roadtrip app — but there are some even cheaper options available
There were widespread concerns Iran could block the Strait of Hormuz — a vital passage carrying around a fifth of the world's oil supply — leading to oil prices surging sharply across global financial markets. On July 2, Brent crude — the international oil pricing benchmark — rose by three per cent after Iran suspended cooperation with the UN nuclear watchdog amid renewed fears of higher US tariffs.
But by the following morning, Brent crude had fallen by 0.65 per cent as market fears somewhat subsided. RAC fuel spokesperson Simon Williams said: "The arrival of summer has brought some wholly unwelcome increases to pump prices, with retailers wasting no time in putting them up following increased tensions in the Middle East.
"Unleaded and diesel are now both at their highest levels since late April, although we see no reason for further increases as wholesale prices have come back down again. July will be a telling month — will retailers halt further price rises, or even cut them if wholesale costs continue to slide? Or will drivers be stuck having to pay an elevated amount for the foreseeable future?"
According to the Sun, the current lowest price in the UK can be found at Costco Liverpool Automat, where petrol is available for 119.9p per litre. The Watford branch of Costco is a close second, offering petrol at 122.9p per litre.
However, there is a catch — to access these discounted rates, you must be a Costco member. Membership is available to VAT-registered businesses or individuals working in certain professions, including NHS staff and police officers. Details about eligible professions and membership criteria are available on the Costco website.
Costco is not the only retailer selling fuel well below the national average — Essar at Grindley Brook Garage in Shropshire is offering petrol at 122.9p per litre, as is Apple Green city services in Liverpool. However, not everyone agrees. Per the Roadtrip app, the top five cheapest fuelling stations to buy petrol as of Thursday, July 10 are:
So even with petrol prices soaring to their highest in four years, there are still places where you can fill up on a budget — especially if you are a Costco member.
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