Higher petrol prices could hit in weeks amid soaring global oil prices
14 June 2025, 09:40
Drivers are being warned that petrol prices could soar amid escalating tensions in the Middle East.
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Brent crude surged overnight, climbing almost 10% before easing to a 7% gain at $74 a barrel.
The sharp rise comes in the wake of Israel's strike on Iran’s nuclear facilities.
Experts are warning that Britain’s cheapest petrol in four years may now be behind us, with wholesale prices jumping 3p per litre in just a week.
Luke Bosdet, spokesperson for the AA, told The Sun: "Bottom-line, the falls in the average pump price of petrol that took it down from 139.8p a litre in February to 132p this week will come to an end."
Typically, a $2 shift in oil prices translates to about a 1p per litre change at the forecourt if the exchange rate remains steady.
Even before the latest surge, analysts had been predicting a rise in fuel costs over the summer.
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Fuel prices usually edge higher over the US holiday season, driven by a global uptick in oil demand.
But Israel’s overnight strike has added a new pressure, pushing prices up even further.
Luke added: "Inevitably, conflict in the Middle East forces up the price of oil and threatens higher pump prices in the UK."
There is a gap between wholesale prices and what drivers pay at the pump, as fuel takes time to filter through the supply chain.
According to the RAC, it generally takes around two weeks for shifts in wholesale costs to show up at forecourts.
To soften the blow of rising pump prices, motorists are being urged to shop around for the best deals.
Rhydian Jones, a car insurance expert at Confused.com, said being savvy can make a real difference.
He said: "Simple changes to your driving habits can help reduce fuel consumption and cut down how often you need to fill up.
"These include removing unnecessary weight from your car, keeping tyres properly inflated, driving gently without overusing the accelerator, keeping windows closed, and avoiding idling whenever possible."
