Summary
The price of petrol in the UK has increased to over 150p per litre for the first time since May 2024, with diesel over 177p. This rise in fuel prices is influenced by ongoing conflicts involving the US and Iran, as well as changes in wholesale oil prices.
Key Facts
- Petrol in the UK now costs more than 150p per litre, last reaching this level in May 2024.
- Diesel prices have risen to over 177p per litre.
- Fuel price increases are linked to recent conflicts involving the US, Israel, and Iran.
- Wholesale oil prices for Brent Crude are above $110 per barrel.
- President Trump has delayed military action against Iran's energy sites by 10 days.
- The RAC advises drivers to use apps to find cheaper fuel options.
- Oil prices have fluctuated between $73 and $116 per barrel in the last month.
- A large portion of fuel costs comes from transport, processing, retail, and taxes.
