Petrol prices in the UK have surged to an average of 163.6p per litre, marking the highest level since the onset of the Iran conflict. The rise is attributed to elevated oil prices, which have been volatile due to ongoing disruptions in the Middle East. Diesel prices also increased, currently averaging 184.99p per litre, although they remain below their peak from earlier this year.
The RAC has indicated that further increases at the pump are likely as oil prices stay high. The situation is exacerbated by the conflict's impact on global oil supply routes, particularly the Strait of Hormuz, which is crucial for oil transport.