Drivers are being advised not to be alarmed despite the surge in oil prices exceeding $100 per barrel. Brent crude reached close to $120 at one point on Monday, marking levels unseen since the summer of 2022.
Given that oil is a key component in the production of petrol and diesel, any spike in oil prices can directly impact fuel prices at the pump. Over the weekend, the nationwide average for diesel surpassed 150p per liter, hitting 150.97p on Sunday, as reported by the RAC. Unleaded petrol averaged 137.51p per liter on the same day.
AA President Edmund King reassured that significant fuel price increases will not occur suddenly. This delay is because fuel has already been purchased at previous rates, meaning the effects of rising oil prices may take time to manifest at the pump.
In the interim, drivers are encouraged to compare fuel prices in their vicinity to secure the best deals. King advised drivers not to alter their refueling routines but to consider minimizing non-essential journeys and adjusting their driving behavior to conserve fuel, especially with warmer weather aiding in extending fuel efficiency.
Platforms like Petrol Prices offer a free online service to track the latest petrol and diesel prices by entering a postcode. Additionally, RAC provides current national averages for petrol and diesel, detailing prices at supermarkets and motorway stations.
The government has introduced a new “fuel finder” initiative mandating all UK filling stations to report any petrol or diesel price changes within 30 minutes. This data is publicly available, enabling third-party apps, websites, and car navigation systems to display live and comparable prices. The Competition and Markets Authority has warned of action against retailers failing to comply.
To save on fuel costs, it is wise to avoid pricier motorway service stations and plan refueling stops strategically. Regular car maintenance through servicing is also essential to ensure optimal fuel efficiency.
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