"The average price of petrol has already climbed to 149.82p per litre and is likely to break through the 150p threshold imminently. Diesel prices have risen even more steeply, reaching an average of 176.66p per litre, an increase of more than 34p since strikes on Iran began."
"Brent crude is currently trading at around $107 per barrel, having surged from roughly $70 a month ago and briefly approaching $120 earlier in June. Simon Williams of the RAC said wholesale fuel data suggests further increases are likely in the short term."
"Fuel prices continue to vary significantly across the UK, with drivers in rural areas and at motorway service stations often paying the highest rates. Petrol prices at motorway forecourts have already exceeded 171p per litre, while some locations are charging more than 190p for diesel."
Fuel prices in the UK are set to rise sharply, with petrol expected to surpass £1.50 per litre for the first time in nearly two years. The average petrol price has reached 149.82p per litre, while diesel has increased to 176.66p per litre. The surge is attributed to a significant rise in global oil prices, currently around $107 per barrel. Regional disparities in fuel prices are evident, with some areas experiencing much higher costs. The increase in fuel prices is likely to contribute to broader inflation affecting various sectors.
Read at Business Matters
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