Drivers across the UK filling up with petrol have been issued a warning as prices are expected to reach 140p on average.
Petrol prices at UK forecourts have shot up in response to ongoing conflict in the Middle East, which has caused global oil prices to spike, soaring above 100 dollars a barrel for the first time since 2022. Analysis by think tank the Energy and Climate Intelligence Unity shows oil trading at 100 dollars a barrel typically results in petrol prices of around 150p per litre, while oil hitting 120 dollars means prices of around 170p per litre.
Since US-Israeli strikes on Iran began on February 28, the average price of a litre of petrol at UK forecourts has jumped to 137.78p, while diesel has gone up to 151.81p, according to the latest figures from the RAC.
Supermarket petrol prices, which are generally cheaper, have also gone up by 15.2p on average, with Tesco currently the cheapest place to fill up at 135.0p on average. But the RAC has warned that prices could jump even further in the coming weeks, reaching up to 140p per litre on average.
RAC head of policy Simon Williams said: “Average petrol and diesel prices have rocketed in the last week and are unfortunately likely to keep on rising, so the situation for UK drivers is looking increasingly bleak.
“Unleaded is almost certainly going to reach an average of 140p in the next week or so, while diesel looks highly likely to climb to at least 160p a litre. We encourage drivers to continue filling up as normal but to shop around for the best prices.”
The Department for Energy Security and Net Zero (DESNZ) has confirmed that international fuel prices are changing and these are being monitored. But it is “too soon” to know who this will translate to local prices at the pump.
As such, drivers are being advised to avoid breaking their refuelling routine and to continue going to the pumps when needed, as normal.
The DESNZ said: “International prices are changing and we are monitoring them. However, it is too soon to say how they will translate to local prices at the pump. Changes in crude oil price tend to feed through gradually over the course of a number of weeks.
“Fuels Industry UK reports that fuels production and imports are continuing across the UK as usual. As motorist organisations the AA and RAC have advised, “there is no need for drivers to break their refuelling routine.””
Drivers can now use a new Fuel Finder service, launched by the government earlier this year, to easily compare the cost of petrol and diesel at every petrol station nationwide using real-time data.
All filling stations are now required by law to report pump prices within 30 minutes of a change, giving drivers access to real-time pricing and the opportunity to find the cheapest fuel nearby.
Drivers can access Fuel Finder data via the government’s Department for Energy Security and Net Zero (DESNZ) website which provides a ‘CSV’ file that can be downloaded.
This file supplies current pump prices for all fuel types at every petrol station, as well as details about each forecourt, such as its address, operator and brand, timestamps of when the fuel prices were last updated, and site amenities and facilities.
Drivers can also subscribe to the ‘CSV’ file email, which will provide the latest link to straight into their inbox every time the fuel prices update.
Alternatively, if you don’t want to download the information via the government website, you can download apps via your smartphone with ‘PetrolPrices’ and ‘fuelGenie’ providing the same data.
