Petrol Prices Spike Again: Drivers Hit with Fresh Hike
UK motorists face a bitter blow as petrol prices jump over 3p per litre, with diesel climbing 4p in just three weeks, according to the latest RAC Fuel Watch.
Costly Fill-Ups Bite into Family Budgets
Unleaded petrol shot up 3.2p, from 140.2p on January 29 to 143.4p by February 18. Diesel surged from 148p to 152p in the same period, adding around £2 more to fill up a typical family car.
These rises come after three months of welcome falls — petrol dropped 17p, dipping below 140p for the first time since mid-January, while diesel fell 15p from October to late January. But prices still remain stubbornly higher than before the pandemic.
Why the Sudden Price Jump?
The culprit? Crude oil prices holding steady above $80 a barrel for the past month — a jump from recent months when prices stayed below that mark.
Simon Williams, RAC fuel spokesman, said:
“Fuel prices had hit rock bottom but are now climbing again. This is bad news for drivers and could hit the wider economy and inflation.”
Williams pointed to several factors behind the hikes — from disruptions caused by Red Sea attacks, global refinery maintenance shutdowns, to the start of America’s busy driving season. Plus, UK retailers are stocking up on fuel ahead of the Budget, bracing for possible fuel duty rises.
What Drivers Can Do to Save
The RAC expects more modest price bumps ahead but warns retailers to keep pricing fair. Supermarket fuel margins have eased since January but still trail pre-pandemic lows.
To dodge the worst of the increases, RAC urges drivers to use the free myRAC app’s fuel finder. It spots the five cheapest local prices — helping drivers save between 1p and 6p per litre. A handy tool when every penny counts.
