Petrol prices across the United Kingdom have climbed to their highest level since December 2022, with the average cost of a litre now standing at 158.5p. The recent surge is attributed to ongoing volatility following the outbreak of conflict in the Middle East on 28 February. Motorists are being warned that further increases are likely in the coming weeks.
RAC Issues Warning on Further Price Rises
The RAC has cautioned that unleaded petrol is expected to rise to at least 160p per litre in the near future. This comes as global oil markets react to heightened tensions in the region. However, diesel prices have seen a notable decline, dropping nearly 6p to 185.92p per litre. The RAC has urged retailers to pass on additional wholesale savings to drivers at the pump.
Impact on UK Motorists and Government Policy
Since the Middle East conflict began, the rise in pump prices has cost UK motorists an estimated £2.9 billion. In response, Chancellor Rachel Reeves is reportedly expected to abandon plans to increase fuel duty from September, providing some relief to drivers. The situation remains fluid, with oil prices continuing to fluctuate amid geopolitical uncertainties.
