Fuel prices are rising again, with unleaded increasing by 0.6p to an average of 157.81p per litre and diesel by 1p to 175.71p over the weekend, according to the RAC.
Since the start of the month, petrol has gone up by more than 6.5p a litre and diesel by 9p, adding £3.50 and £5 respectively to the cost of filling a family car.
RAC warns of grim outlook
RAC head of policy Simon Williams said: "Pump prices continued their inevitable rise over the weekend, with unleaded up another 0.6p to an average of 157.81p and diesel a penny to 175.71p. The outlook for drivers is pretty grim."
He added: "It looks highly likely now that petrol will hit 160p a litre – its highest level since the United States/Iran conflict began – and diesel 180p by the end of this week, off the back of an elevated oil price."
Conflict continues to impact markets
The US and Iran have been in conflict since late February when joint American-Israeli strikes were carried out on key Iranian sites. Iran retaliated by striking sites across the Middle East and closing the Strait of Hormuz, through which 20% of global oil passes.
Despite a brief reprieve after a memorandum of understanding was signed last month, the re-closure of the strait and restart of conflict have shaken markets.
Advice for motorists
Williams said: "The price drivers pay at the forecourt depends heavily on the global oil price, which has been rising following the end of the ceasefire. A short-term pause in hostilities between the countries is unlikely to be enough to quell the oil price. What's needed is a sustained drop over several weeks and, unless that happens, elevated prices at the pump look like they're here to stay."
He encouraged drivers to use free apps like myRAC to find the cheapest fuel. Fuel price comparison platform FuelRadar also advised motorists to "avoid the Friday rush" as demand increases ahead of weekend trips.
