High wholesale prices driving fuel price hikes, finds RAC

The price of a barrel of oil has averaged $96 for the past week, resulting in continued increases in forecourt prices of fuel, according to the RAC.

As of today, petrol prices average 167.17p per litre, up by 5p from a week ago.

Diesel prices have increased by the same amount, now averaging 188.63p per litre, the highest figure seen since 28th April 2026.

Petrol prices have reached a four-year high.

The lowest prices for petrol and diesel since the start of the Iran war were 150.59p per litre and 164.52p per litre respectively, in early July.

Rod Dennis, senior policy officer at the RAC, said: “Drivers are having to dig ever deeper into their pockets every time they fill up, and there’s no sign of any relief yet.

“With the cost of a barrel of oil having averaged $96 for the last week, wholesale prices are surging and that’s already feeding through to prices at the forecourt.

“The average price of unleaded has increased by 5p a litre in just the last week to reach 167.17p, while diesel has gone up by the same amount to 188.63p.