Oil prices have reached a five-month high, raising concerns about further increases at UK fuel pumps. Brent crude, the global benchmark, climbed by as much as 1.4% overnight to more than $114 a barrel, compared with around $73 before hostilities began earlier this year.
Middle East tensions fuel oil spike
The latest rise followed reports that Donald Trump may escalate strikes in the Middle East after the midterm elections. The New York Times reported that the US and Israel had drawn up plans for renewed strikes against Iran.
Numerous experts have called on the Government to cut fuel duty rates to protect drivers from escalating petrol and diesel costs during the latest conflict.
Current UK pump prices
The average petrol price in the UK is now 173.98p per litre, while diesel is 199.01p per litre, according to RAC Fuel Watch, nearly at the diesel high seen after Russia invaded Ukraine in 2022.
Motorists who want to avoid paying even more could consider filling up on Monday and Tuesday, as fuel prices remain lower due to decreased demand, according to data from UK Fuel Planner.
Best days to fill up
Its analysis of UK pricing data found that, typically, Monday and Tuesday consistently offered the best value. It said this was because demand is higher towards the weekend, as leisure drivers fill up for longer journeys on Fridays and Saturdays. Thursday and Friday consistently showed the highest pump prices in its analysis of UK data.
"The differential is typically modest — usually 1 to 3 pence per litre compared with the weekend peak — but on a 55-litre tank this still represents a saving of up to £1.65," it explained.
However, there is no guaranteed cheap day since prices are driven by global markets, and the difference is usually small, so choosing forecourts carefully may make a much greater impact.
Regional price disparities
A month ago, motorists in Rugby, Warwickshire, could have paid £20 more to fill up a tank if they had visited rival forecourts just a few miles apart. British Fuel Prices revealed there was a 30p price disparity, meaning drivers of large family cars could pay almost £20 extra to fill a tank.
