Drivers warned to brace for ‘shocking’ 180p diesel as fuel prices shoot up ‘like a rocket’

DRIVERS are being warned of “shocking” fuel price rises on the way, with diesel set to hit 180p per litre. The RAC has said fuel prices are already “shooting up like a rocket” as oil costs have soared in the wake of the latest Middle East tensions. Petrol prices are heading back up towards 160p per litre, while diesel is not far off 180p. If petrol did reach 160p, this would mark the highest it’s risen since the Iran war broke out. Sign up for the Money newsletter Thank you! Oil prices have climbed back above $100 a barrel, the first time they’ve been at that level since May. Commercial shipping through the Strait of Hormuz remains blocked as Iranian attacks have effectively halted sea traffic. The longer the key shipping lane stays blocked, the more pressure there is on global oil supply and therefore prices. Diesel is now averaging 172.14p a litre, an increase of 8p in the last two weeks. Petrol has increased by 5p in two and a half weeks up to 155.57p. It’s a major blow to drivers, who had just seen fuel prices start to come down after they peaked in April and May. Most read in Money After the Iran war first broke out, the average price of diesel hit a peak of 191.54p a litre on April 15. Petrol peaked at 159.53p a litre on May 28. A ceasefire deal between the US and Iran in June had helped oil and fuel prices cool off. On July 6, petrol hit a three-month low of 150.59p. But the renewed tensions, which have seen both sides exchange fire, have caused prices to shoot back up again. RAC head of policy Simon Williams said: “All the cuts of the last few months are sadly being reversed, with the price of unleaded now heading back up towards 160p and diesel to a shocking 180p. “Unless the renewed conflict is brought to an abrupt end soon, it’s looking like UK drivers are going to suffer some stinging summertime pump prices.” The rapid 5p-a-litre increase in the cost of petrol will hit the 1.3million holiday drivers expected to hit the roads next week. Fuelling a 300-mile road trip for a car managing 45 miles to the gallon has now gone up from £45.66 to £47.12, according to the AA. Motorhome drivers with 90-litre fuel tanks will see the cost of filling up rise from £148.30 to £154.80. Luke Bosdet, the AA’s spokesperson on pump prices, said: “This is a bitter blow for the second wave of summer holiday road travellers, and it doesn’t look as if it will get any better soon.” With prices on the rise again, it’s worth getting into the habit of finding the lowest priced forecourts. Use our tool to help you find the cheapest petrol station in your area. Comment now