The price of both petrol and diesel at UK filling stations rose during June, according to data from the RAC.
The motoring organisation said the average price of a litre of petrol was up by 2p compared with May, while diesel was up by 2.8p.
The RAC said the main reason for the increases was the cost of a barrel of oil jumping from around $64 in late May to a high of almost $79 on 19 June, following escalating tensions between Israel and Iran – although this price subsequently dropped back to $67.
RAC spokesperson Simon Williams said: “The arrival of summer has brought some wholly unwelcome increases to pump prices, with retailers wasting no time in putting them up following increased tensions in the Middle East. Unleaded and diesel are now both at their highest levels since late April, although we see no reason for further increases as wholesale prices have come back down again.
“July will be a telling month – will retailers halt further price rises, or even cut them if wholesale costs continue to slide? Or will drivers be stuck having to pay an elevated amount for the foreseeable future? This is particularly topical given it was only two days ago that the Competition and Markets Authority noted how weak competition within the fuel retailing market is.
“Thankfully, we’re a long way off the record pump prices of exactly three years ago – when the Russia/Ukraine conflict saw the average price of unleaded hit an unprecedented 191.53p a litre and diesel climb to 199.21p, with some retailers charging well in excess of £2 a litre.
“But given fuel represents a substantial chunk of most households’ monthly outgoings, it remains the case that drivers need to be guaranteed a fair deal every time they fill up.”
