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UK petrol prices set to rise to highest level this year
The AA said average petrol prices reached 159.5p a litre on Thursday, after jumping more than 3p over the week.
Petrol prices in the UK are expected to move to their highest level so far this year this weekend, the AA said, as fresh pressure on fuel costs follows renewed US attacks on Iran, according to The Guardian Business. The AA reported average petrol prices rose to 159.5p a litre on Thursday, after increasing by more than 3p during the week.
The AA pointed to the prior yearly peak at the end of May, when petrol averaged 159.7p a litre, and said a weekend move higher would come just short of the previous peak of 159.9p on 31 November 2022. The article also notes petrol prices had declined after the US reached a memorandum of understanding with Iran in mid-June, but recent strikes and retaliation have shifted the outlook again.
The Guardian Business added that diesel prices were 178.2p yesterday, still below the 192.4p high for the year set in mid-April. The AA expects 20.5m UK drivers to be on the road in the third week of the holiday season, with fuel sellers’ reporting behavior linked to the government’s Fuel Finder service introduced in May.
In comments carried by The Guardian Business, AA spokesperson Luke Bosdet said fuel prices appear to track wholesale prices more closely since May, when the Fuel Finder service required all petrol stations to report prices publicly. The article frames the situation as another cost pressure for households amid higher pump prices.