Diesel prices have surged by a whopping 6p per litre in just days following rising tensions in the Middle East. The RAC reports diesel now averages 148.4p per litre — its highest in 16 months, up from 142.4p before the Iran attacks began.
Petrol prices have climbed too, but more slowly, rising nearly 4p to 136.5p per litre. For typical drivers, that means filling a 55-litre petrol tank now costs an extra £2, while diesel drivers are stung with an additional £3.30.
Oil Price Skyrockets as Iran Targets Key Supply Route
The conflict escalated as Iran launched strikes on the vital Strait of Hormuz, through which much of the world’s oil flows. Brent crude oil prices have jumped 23% in one week, hitting over $91 per barrel on Friday — rattling global markets.
Since Brent crude underpins both petrol and diesel production, the spike is feeding straight through to pump prices.
“It normally takes two weeks for wholesale price changes to show at the pumps,” said RAC spokesman Simon Williams. “Prices soaring this fast suggests some retailers may be cashing in on the crisis.”
More Price Jumps Loom as Oil Threatens £1.50 Per Litre
Williams warned drivers to brace for more pain. “If crude keeps climbing or stays high, forecourt hikes are unavoidable,” he said.
His warning follows a dire forecast from Qatar’s energy minister who predicted oil could soar past $150 a barrel — nearly double current prices — sparking fears of a global energy meltdown.
Record Fuel Bills on Horizon as Crisis Deepens
Fuel prices haven’t been this high since the Ukraine war peak in July 2022, when petrol hit 191.5p and diesel reached 199p per litre.
There’s currently a 55p gap to petrol’s all-time high, but experts say it could close fast if tensions continue. The Energy and Climate Intelligence Unit predicts petrol prices could hit 150p per litre if Brent crude breaks $100.
Despite panic fears, the AA urges drivers to avoid stockpiling and stick to normal refuelling routines.
5 Simple Ways to Slash Your Fuel Bills
- Drive smoothly with steady acceleration and braking.
- Keep your tyres properly inflated for max efficiency.
- Lighten your load by removing unnecessary weight.
- Use higher gears to keep engine revs low.
- Avoid idling to save precious fuel.
