Petrol prices hit three-and-a-half year high due to Iran war

RAC head of policy Simon Williams said: "In very unwelcome news for drivers the average price of petrol is at its highest since November 2022 as the Iran oil crisis continues. Petrol is 160p-a-litre having increased more than 9p (9.38p) since falling to a low of 150.59p on 6 July. Diesel has now shot up 14.5p since its low point on 9 July to 179p but fortunately is still 12.5p below its conflict high of 191.54p on 15 April.

"This means the cost of filling a family-sized car with unleaded has gone up to £88 while a tank of diesel is £10 more. The wholesale price of petrol eased very slightly this week but is not enough to make a difference at the pumps. Diesel looks set to keep on rising and is likely to reach 185p a litre in the next few weeks, barring any major oil price reduction."

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