Petrol and diesel costs within the UK have risen sharply since battle sparked in late February, however a ceasefire announcement has induced oil costs to drop
Worth rises have hit UK drivers laborious (Picture: FreshSplash through Getty Photos)
Since hostilities between the USA, Israel and Iran triggered an financial shockwave all through March, petrol and diesel costs within the UK have climbed steeply. Motorists had been benefiting from steady and comparatively inexpensive prices through the first two months of 2026, earlier than that got here to an abrupt finish.
Within the weeks since strikes have been initially launched on the finish of February, petrol drivers have witnessed costs improve by roughly 25p per litre, whereas diesel drivers have been struck even tougher – compelled to soak up rises of round 50p throughout that interval.
Nonetheless, stories of a two-week ceasefire in a single day and renewed efforts to reopen the essential oil transport route of the Strait of Hormuz has seen oil costs decline considerably, though they continue to be significantly above pre-conflict ranges. It has generated cautious optimism that pump costs might start to fall.
RAC head of coverage Simon Williams stated: “The common worth of a litre of unleaded is now at 157.71p – up 25p (19%) because the conflict started – whereas diesel has exceeded the 190p mark (190.62p) and is up 48p (34%) since February 28.
“Each fuels are actually at their costliest since late 2022.
“The conditional ceasefire announcement might have taken some warmth out of world oil costs, however the outlook for drivers within the UK stays extremely unsure.
“The perfect hope within the brief time period is that pump costs cease rising on the fee they’ve been and hopefully high out within the coming days.
“A lot will rely upon the soundness of the ceasefire, whether or not oil shipments can transfer freely by the Strait of Hormuz, and the longer‐time period impression on oil manufacturing throughout the Gulf.
“As it’s a sustained decrease oil worth – over a number of weeks, not only a few days – that’s required to carry wholesale gasoline prices down meaningfully.
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“Drivers shouldn’t count on considerably cheaper gasoline within the brief time period, though some smaller unbiased forecourts shopping for on a ‘spot’ foundation could also be faster to cross on any reductions.
“We proceed to advocate drivers store round for gasoline and make use of free apps like myRAC to make sure they at all times get the perfect worth every time they refill.”
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