RAC warns that highest petrol prices are yet to come amid more Iran turmoil

WorldBusiness & Finance
5 May 2026 • 8:45 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

RAC warns that highest petrol prices are yet to come amid more Iran turmoil

  • The RAC has warned motorists about impending fuel price increases, as wholesale petrol and diesel costs have reached their highest levels since the Iran war began.
  • Wholesale fuel prices jumped by approximately 5p per litre last week, a rise that has not yet been fully passed on to consumers at the pumps.
  • As of Tuesday, petrol was priced at 157p and diesel at 188p, with a 5p per litre increase adding around £3.30 to the cost of filling a small to medium-sized car.
  • The RAC predicts that if oil and wholesale fuel prices remain elevated in the coming weeks, further price rises at forecourts are "all but inevitable".
  • Experts suggest that current oil prices do not fully reflect the tightness of the physical market, and drivers are advised to shop around for the best deals.

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