Diesel drivers issued warning over problem not | Tech News

Diesel drivers are dealing with a problem not seen for the reason that finish of 2024 as fuel prices begin to rise amid disruption within the Middle East. According to consultants on the RAC, diesel prices have hit 147p per litre, the very best stage since October 2024.

It comes after prices have soared in the previous few days, as world oil disruption started to be affected by the continued battle in Iran. A barrel of Brent crude oil has soared above $80, and that is beginning to have a knock-on impact on petrol and diesel costs.

Data from the RAC exhibits that average diesel prices sat at 142.38p per litre on February 28, however had risen to 147.33p by March 5. Petrol has additionally risen over the previous week, with prices leaping from 132.83p per litre to 135.96p.

RAC head of coverage Simon Williams mentioned: “Petrol has now increased by 3p to 136p a litre since Saturday, while diesel is up by 5p to a 16-month high of 147p. While wholesale costs for any retailer buying in new stock will have gone up, it normally takes two weeks for price changes to work their way through to the forecourt.”

And price hikes might not finish there, with continued disruption prone to see the wholesale price of oil climb even increased. The RAC beforehand outlined how fuel pump costs might react in numerous conditions.

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At $90 a barrel, the RAC predicted petrol might price round 140p a litre, with drivers paying close to 150p a litre if oil rose to $100 a barrel.

Auto Express client reporter Tom Jervis defined: “It’s only a matter of time before these changes in international markets are reflected in what UK consumers pay. One safe bet is that fuel and energy providers will react like a scalded cat to price rises rather than the tranquilised-tortoise approach they adopt when the markets fall.

“Experts predict that at $80 a barrel we could be looking at another penny or two on the current average petrol price of £1.34 per litre, but the price hit $114 per barrel in the early months of the Ukraine conflict in 2022.”