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

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Petrol costs at the moment are 10p increased than earlier than the Iran battle escalated, and diesel prices have shot up by 20p a litre, based on new figures.

The RAC mentioned costs on the pump had been “actually beginning to harm drivers” as they proceed to rise amid the battle within the Center East.

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

Common diesel costs had jumped by almost 14% over the roughly two-week interval to 162.1p per litre.

RAC head of coverage Simon Williams mentioned: “Petrol has now elevated by 10p a litre for the reason that begin of the battle in Iran and diesel by double that.

“That is actually beginning to harm drivers who do a number of miles, and particularly for these with diesel automobiles.

“At 162p a litre they’re now paying £11 greater than they had been at finish of February at £89 a tank.

“If oil stays across the 100 {dollars} a barrel mark, then the value of petrol mustn’t go above 148p a litre.

“The outlook for diesel is worse because it seems to be on a crash course to a median value of 170p.”

Mr Williams mentioned it was “extra vital than ever” to buy round for costs at totally different forecourts when individuals are filling up their vehicles.

Oil costs – which have a big impact on the price of wholesale gas – have been hovering above 100 {dollars} a barrel in latest days, having exceeded the mark for the primary time since 2022 final week.

Disruption to provide of the commodity due to Iran’s stranglehold on oil tankers passing by means of the Strait of Hormuz, a key worldwide transport route, has despatched costs hovering.

Chancellor Rachel Reeves informed petrol retailers final week that they had a “shared obligation” to maintain costs down for motorists.

And power minister Michael Shanks mentioned on Tuesday that the Authorities “stands prepared to offer no matter help is required to shoppers” over power payments, however asserted that there have been “no considerations in any respect about gas provide”.