Petrol hits highest price since start of Iran war
Summary
The average price of unleaded petrol in the UK has reached 158.52 pence per litre, the highest since the start of the Iran war in February. Rising oil prices caused by disruptions in the Middle East have pushed fuel costs up, and petrol prices are expected to increase further unless oil prices drop significantly.Key Facts
- Petrol prices rose sharply after the Iran conflict began on 28 February.
- The current average unleaded petrol price is 158.52p per litre, higher than the previous peak of 158.31p on 15 April.
- Diesel prices have also increased, now averaging 185.92p per litre, up from 142.38p at the conflict’s start.
- Brent crude oil, a global oil price benchmark, is trading around $111 per barrel, up from about $73 before the conflict.
- The UK government may cancel a planned fuel duty increase scheduled for September to help drivers.
- The current fuel duty rate is 52.95p per litre, which has been reduced since the Ukraine war.
- Diesel prices have recently decreased but remain higher than expected compared to wholesale prices.
- The RAC urges fuel retailers to pass on wholesale savings to consumers at petrol stations.
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