Brent crude has climbed above $71 a barrel – its highest stage since July 2025
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Drivers are being advised to refill now as petrol costs edge larger – with warnings that prices may surge to as a lot as £2 a litre beneath a worst case situation.
After months of regular falls since mid-December, the typical worth of unleaded has risen for 2 consecutive weeks. It now stands at a complete of 131.71p per litre, up from 131.46p on February 9. Specialists say the reversal has been triggered by renewed volatility in international power markets.
Brent crude has climbed above $71 a barrel – its highest stage since July 2025 – amid heightened tensions within the Center East and the continuing Russia-Ukraine battle.
Considerations over Donald Trump’s tariffs and their affect on international commerce are additionally rippling by way of commodity markets.
Whereas immediately’s costs stay properly under the July 2022 peak of 191.55p per litre, when Russia’s invasion of Ukraine despatched gasoline prices hovering, analysts consider the current dip could have run its course.
Brent crude has climbed above $71 a barrel – its highest stage since July 2025 (Picture: Getty) Private finance information, cash saving suggestions and recommendation plus selcted provides and competitions Subscribe Invalid electronic mail
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Tony Redondo, founding father of Newquay-based Cosmos Forex Alternate, stated drivers ought to make the most of present costs whereas they will.
He stated: “The current rise to 131.71p per litre indicators a definitive pause within the downward development UK drivers loved earlier this 12 months.
“This uptick is primarily pushed by international volatility, with Brent crude climbing above $71 per barrel – the best since July 2025 – because of heightened tensions within the Center East and the continuing Russia-Ukraine battle.
“Domestically, whereas the 5p gasoline responsibility lower stays in place till September 2026, retailers are quickly passing these wholesale will increase to the pumps.
“Barring a significant provide disruption, equivalent to direct army motion involving the US and Iran or a blockage of the Strait of Hormuz, costs are anticipated to settle between 133p and 135p within the quick time period.
“Whereas we aren’t approaching the 191p file highs of 2022, the value ‘flooring’ has seemingly been reached. It’s smart to refill now when you discover a station close to the present common, as retail costs usually rise a lot sooner than they fall.”
The Strait of Hormuz – a crucial transport route for international oil provides – stays a specific flashpoint. Any disruption there may ship crude costs sharply larger inside days.
Others warn that much more dramatic rises can’t be dominated out.
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Samuel Mather-Holgate, managing director and IFA at Swindon-based Mather and Murray Monetary, advised Newspage: “Donald Trump’s tariffs actually are felt throughout the globe, even when not directly, in petrol costs.
“Growing uncertainty on the world stage pushed up the value of the commodity that’s nonetheless the engine juice of the world.
“With tariffs, international political uncertainty within the Center East and the issue of Venezuela, it’s anybody’s guess how a lot crude would possibly go up. It’s not unthinkable that we may see as much as £2 per litre within the UK by the top of the summer season.”
A rise to £2 would symbolize an increase of greater than 50% from immediately’s common and push prices near the file ranges seen throughout the 2022 power disaster.
Steven Greenall, adviser at Rayleigh-based Defend & Lend, identified that oil costs have already climbed greater than 8% over the previous month.
He stated: “With oil up over 8% on the exchanges during the last month it’s unsurprising petrol is ticking up on the pumps. Rigidity rising within the Center East and potential threats to transport by way of the Straits of Hormuz are inflicting some jitters. If additional battle breaks out count on additional upward strain however I’d count on it to be non permanent.”
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