The RAC are warning drivers over soaring oil prices as a the cost of a barrel is nearing $100 which will push pump prices up.
Drivers are in “for a hard time at the pumps” the RAC have warned as there is increasing demand from China as Saudi Arabia and Russia have triggered a rise in oil prices.
On Monday Brent crude ended at $94 per barrel which is the highest price since mid-November last year.
RAC fuel spokesman Simon Williams said, “Diesel is set to jump in price from its current average of 159p a litre to over 170p.
“But the situation with petrol is different with RAC Fuel Watch data showing that prices on the forecourt are actually too high due to retailers taking bigger margins than normal.
“If they were playing fair with drivers, they would be reducing their prices rather than putting them up.
“However, if oil were to hit 100 US dollars, it should really only take the average petrol price up by another 2p.
“But if retailers remain intent on making more money per litre with increased margins then this could be closer to 160p.”