Diesel prices to spike 'over 170p' with drivers urged to prepare for 'hard time at the pumps'
Experts are warning that diesel prices could soon rise
PA
Experts are warning drivers that they could face pain at the pumps in the coming months as the cost of a barrel of oil nears $100 or £80.
The RAC said drivers should prepared themselves for a “hard time at the pumps” with rising costs for petrol and diesel.
Motoring organisations have pointed to increased demand from China and production cuts from key OPEC members Russia and Saudi Arabia as the reason for the rising prices.
Brent crude oil recently breached the $94 (£74) benchmark, marking the highest price since mid-November 2022.
The price of fuel broke records last summer
Experts are now predicting that global pressures could result in the price of oil per barrel hitting a staggering $100.
Fuel prices have been rising for the past few months, with British motorists facing expensive costs for the first time since last summer when price records were broken.
The UK averages for both petrol and diesel stand at prices not seen for months, with a litre of unleaded setting drivers back 155.5p, while diesel has surpassed £1.59 per litre.
Drivers can see slight savings by visiting supermarkets instead of regular petrol stations, with petrol costing £1.53 and diesel costing £1.55.
Both of the UK average prices have not been seen since 2022, with the RAC predicting that fuel costs will continue to rise.
Simon Williams, RAC fuel spokesperson, said: “Diesel is set to jump in price from its current average of 159p a litre to over 170p.
“But the situation with petrol is different with RAC Fuel Watch data showing that prices on the forecourt are actually too high due to retailers taking bigger margins than normal.
“If they were playing fair with drivers, they would be reducing their prices rather than putting them up.”
He also warned that if the price of oil did hit $100, it would take the average petrol price up by another two pence per litre, which some have warned would have a massive impact on drivers.
Simon Williams added: “But if retailers remain intent on making more money per litre with increased margins then this could be closer to 160p.”
A surefire way for motorists to avoid the expensive fuel costs is to avoid any motorway service stations when refilling.
The average motorway service station price for petrol is a staggering 177.81p per litre, while diesel drivers will be forced to pay more than £1.80 per litre.
LATEST DEVELOPMENTS:
A
PA
With a price difference of around 25p per litre when comparing supermarkets and motorway services, drivers could save £20 per refuel with an 80-litre tank.