Drivers hit by new ‘£14 rule’ from today RAC says | Tech News

Motorists are actually being hit by a new high in fuel costs – which means they’re now more that £14 additional to fill up a tank. This morning the RAC gave the newest figures for the prices going through motorists.

The Strait of Hormuz remains to be closed to delivery – and US airstrikes began again, indicating that hopes of a peace deal are fading again. The RAC mentioned: “The average price of petrol is now at an Iran War high of 159.43p which is 26.6p more expensive than it was on 28 February. Diesel is at 184.96p, having fallen 6.58p since it peaked on 15 April 191.54p – today is the first time it has been below 185p a litre since 1 April this year.

“A 55-litre tank of petrol for an average family size car now costs £87.69 which is £14.63 more expensive than it was on 28 February. The diesel equivalent is £101.73 – £23.42 more than it was at the start of the war.”

RAC head of coverage Simon Williams described the current rise as “bad news for drivers” and warned costs are set to develop into even more costly.

He mentioned: “RAC analysis of wholesale fuel data unfortunately indicates that unleaded is now likely to increase to at least 160p a litre in the coming weeks, unless there’s a dramatic and sustained drop in the price of oil which has been above 100 US dollars a barrel since late April.”

“It’s a more positive outlook for diesel as the wholesale price has reduced significantly since it peaked in early April.

“While the price of diesel at the pump has fallen nearly 6p to 185.92p – its lowest price since the start of last month – it should really be much lower than it is.

“We urge retailers to reflect the savings they’re benefitting from when buying new supply on the forecourt.”

As the conflict in Iran places stress on costs at home, the federal government stepped in with a tax cut for hauliers to keep cabinets stocked and financial system shifting, prolonged the 5p fuel obligation freeze to guard motorists on the pump, and emergency aid for households in rural communities who’ve been hit by a sharp increase within the price of heating oil.

The Government final week introduced the 5p cut on fuel obligation shall be prolonged for the remainder of the 12 months. In whole, by the top of this 12 months the cut may have saved the average driver £120 since 2025, officers mentioned.

The battle has additionally pushed up prices for hauliers. The Chancellor gave them a 12-month highway tax vacation – which means they are going to pay £1 at renewal, saving £600 for a typical heavy lorry and £912 for the largest autos on the highway.

Farmers, rail freight, and different purple diesel customers may also see their fuel obligation cut by over a third till the top of the 12 months. This is the bottom fee in over 20 years, serving to to keep the price of doing business down at a troublesome time when purple diesel costs are round 50% more than their pre-crisis ranges.

Since the beginning of the Iran battle, the federal government has been clear that it’ll not make kneejerk selections that would affect on financial stability. The bundle of assist introduced ahead is well timed and focused.

Chancellor of the Exchequer Rachel Reeves mentioned: “I’m keeping taxes down for drivers and businesses – putting money in the pockets of millions of workers and cutting costs for farmers and hauliers.

“The war in Iran is pushing up fuel prices here at home but after strong growth at the beginning of the year, I am stepping in to protect people at the pump

“By protecting households and businesses we are building a stronger and more secure economy for Britain. That is the right economic plan.”