Motorists face a significant milestone at the pumps on Thursday as petrol crosses the £1.50 per litre barrier across Britain for the first time in almost two years.
The RAC issued the warning after average prices reached 149.82p per litre nationally - making a breach of the 150p threshold almost a certainty.
The war in Iran has driven the surge, adding 17p to the cost of a litre of petrol during March alone.
Diesel users have been hit even harder, with prices climbing by more than 34p since US and Israeli military action against the Islamic Republic began.
The current diesel average stands at 176.66p per litre, a level not seen since Christmas 2022.
That previous spike occurred during the energy crisis triggered by Russia's invasion of Ukraine.
"Our analysis of wholesale fuel data points towards petrol continuing to rise to 152p a litre and diesel to 185p, possibly higher," said the RAC's Simon Williams.
The projections remain below the record highs of 2022, when petrol exceeded £1.91 and diesel nearly touched £2.
Petrol is set to cross the £1.50 per litre barrier for the first time since mid-2024 on Thursday
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The staggering rise also comes amid a period of extraordinary oil market volatility, with Brent crude currently trading at approximately $107 per barrel.
Earlier this month, oil briefly approached $120, having risen dramatically from around $70 just four weeks prior.
"While soaring costs at the pumps are putting a strain on drivers, as long as the cost of oil remains around $100 [then] prices should begin to stabilise," Mr Williams said.
As well as the worrying average rise, forecourts around the country are in line for severe price disparities.
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The RAC issued the warning after average prices reached 149.82p per litre nationally
| RACRural filling stations and motorway services typically charge the steepest rates.
Government data from the Fuel Finder service reveals over 170 garages are now selling diesel above 190p per litre.
A small number have pushed past the 200p mark.
Conversely, several dozen outlets offer diesel for just under 160p, while motorway petrol currently exceeds 171p per litre.
The Treasury stands to benefit substantially from elevated prices through VAT receipts
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Ministers have levelled accusations of profiteering at retailers - though forecourt operators reject this.
The Treasury, meanwhile, stands to benefit substantially from elevated prices through VAT receipts.
The 20 per cent levy applies to fuel after duty has been added, creating what critics describe as a tax on a tax.
RAC Foundation figures show UK motorists consumed 18.6 billion litres of petrol and 28.3 billion litres of diesel last year.
Based on pre-conflict prices, annual VAT revenue would have reached £13billion.
With current elevated prices factored in, that projection climbs to £15.5billion - a £2.5billion windfall for Government coffers.