Petrol and diesel prices in the UK have reached their highest levels since 2022, according to motoring organisation the RAC. The average price of petrol is now 169.68 pence per litre, while diesel has risen to 191.68p.
RAC head of policy Simon Williams said there was no clear end in sight to high pump prices. The organisation said filling a 55-litre family car now costs more than £93 with petrol and more than £105 with diesel. Diesel remains below its 2022 record of 199.05p a litre, while petrol is below its 2022 peak of 191.5p.
The increase follows a rise in wholesale oil prices above $100 a barrel. The report links the movement to renewed conflict in the Middle East, which has disrupted oil production and transport. It says Brent crude, the global benchmark, had fallen towards $70 after a framework deal in June, but climbed again after peace talks collapsed and hostilities intensified.
Average petrol prices were 150.59p a litre in July, while diesel stood at 164.52p. Changes in wholesale markets generally take about two weeks to reach forecourts because of the time needed to transport oil, according to the report. Analysts cited by the BBC estimate that every $10 rise in the price of a barrel increases pump prices by roughly 7p a litre.
The Strait of Hormuz is a major factor in supply concerns. About 20% of the world’s oil and liquefied natural gas normally passes through the waterway, and the report says restrictions have limited supplies. Even if shipping resumes, experts cited by the BBC warn that the effects could continue for months.
Fuel retailers have denied price gouging. The official markets regulator said it had not seen evidence that retailers were changing pricing strategies to exploit the crisis. The RAC has urged the government to keep fuel duty at its current level, while a planned 5p increase was postponed until the end of December, according to the report.