Fuel prices continue to soar as Iran war continues

UK motorists are experiencing a new surge in petrol and diesel prices, with experts warning that further increases are likely as the conflict in the Middle East drives global oil costs higher.

According to RAC data, the average petrol price has risen to 142.29p per litre, while diesel has climbed to 162.06p per litre.

This marks an increase of 10p and 20p respectively in less than three weeks, following the assassination of Iran’s Supreme Leader, Ayatollah Ali Khamenei.

Simon Williams, head of policy at the RAC, noted that this hike is “really starting to hurt” drivers, especially those with diesel vehicles. “A family car with a 55-litre tank is now paying £89 to fill up,” he cautioned.

“If crude oil stays around $100 a barrel, petrol could reach 148p per litre, with diesel potentially hitting 170p.”

The Government’s Fuel Finder scheme enables drivers to compare prices at nearly 90% of forecourts, potentially saving them a few pence per litre. Williams urged motorists to shop around, stating, “Now more than ever, every penny counts.”

These price rises are occurring amid political controversy surrounding fuel duty. The Conservatives are calling for a vote in the Commons to repeal Labour’s planned duty increase, accusing the Government of raising costs during an energy crisis.

Chancellor Rachel Reeves is overseeing a phased reversal of the 5p cut that was implemented after the Russian invasion of Ukraine, with rates expected to revert to pre-March 2022 levels by March 2027.

Conservative leader Kemi Badenoch criticised Labour’s approach, describing it as “disgusting” to raise taxes while households are facing skyrocketing energy bills.

Shadow Transport Secretary Richard Holden said: “Conservatives froze and cut fuel duty over 15 years.

“Now Labour want to take drivers for a ride with three fuel tax rises just as families are running on empty thanks to Keir Starmer and Rachel Reeves economic vandalism.

This is a tax on work, a tax on travel and a tax on the millions of drivers who keep Britain moving. It will hit commuters, hammer hauliers and drive-up prices in every shop in Britain.

A Treasury spokesperson said: “We have the right economic plan. We have extended the 5p fuel duty cut to September to save drivers £49, and our new fuel finder will ensure drivers get a fair deal at the pump.”

With global oil flows disrupted and Brent crude prices exceeding $100 per barrel, experts warn that the UK may continue to face fuel price challenges in the coming weeks.