Diesel on ‘crash course’ to 170p a litre while petrol up 10p on pre-Iran war

Petrol prices are now 10p higher than before the Iran war escalated, and diesel costs have shot up by 20p a litre, according to new figures.

The RAC said prices at the pump were “really starting to hurt drivers” as they continue to rise amid the conflict in the Middle East.

The average price of unleaded petrol at UK forecourts was 142.3p a litre on Tuesday, up 7.1% since February 28.

Average diesel prices had jumped by nearly 14% over the roughly two-week period to 162.1p per litre.

RAC head of policy Simon Williams said: “Petrol has now increased by 10p a litre since the start of the conflict in Iran and diesel by double that.

“This is really starting to hurt drivers who do a lot of miles, and especially for those with diesel vehicles.

“At 162p a litre they’re now paying £11 more than they were at end of February at £89 a tank.

“If oil stays around the 100 dollars a barrel mark, then the price of petrol should not go above 148p a litre.

“The outlook for diesel is worse as it appears to be on a crash course to an average price of 170p.”

Mr Williams said it was “more important than ever” to shop around for prices at different forecourts when people are filling up their cars.

Oil prices – which have a significant effect on the cost of wholesale fuel – have been hovering above 100 dollars a barrel in recent days, having exceeded the mark for the first time since 2022 last week.

Disruption to supply of the commodity because of Iran’s stranglehold on oil tankers passing through the Strait of Hormuz, a key international shipping route, has sent prices soaring.

Chancellor Rachel Reeves told petrol retailers last week they had a “shared obligation” to keep prices down for motorists.

And energy minister Michael Shanks said on Tuesday that the Government “stands ready to provide whatever support is needed to consumers” over energy bills, but asserted that there were “no concerns at all about fuel supply”.