Motorists are facing a hike in prices at petrol pumps due to the Houthi attacks on shipping in the Red Sea, the RAC has warned.
Costs to fill an average family car are up by about £2 this month so far with the price of petrol up 3.2p on average to 143.4p per litre and diesel by 4p to 152p.
Prices remain well down from the start of 2024, when petrol was around 157p, noted the motoring organisation.
Crude has been trading above US$80 a barrel for most of the past month and this is starting to deed trough into pump prices as higher priced stocks reach refineries, it added.
Simon Williams, the RAC fuel spokesperson, said: “While we’re not expecting prices to shoot up dramatically, it appears that oil is trading up, which in the absence of a stronger pound means wholesale fuel costs more for retailers to buy in.
"The result is higher prices at the pump and more expense for the everyday driver.”
Forecourt prices are not expected to climb much higher but this will depend on how much margin the biggest retailers decide to take, said Williams.
“Supermarket margins are lower than they were in January, but they are still significantly higher than they were prior to the pandemic and Russia’s invasion of Ukraine.”