Petrol prices jumped above an average of 150p per litre for the first time in five months on Monday, the AA has said.
This came as 28.1% of forecourts were charging above the mark, against 23.8% a week ago, with the AA adding diesel prices sat above 158p in the meantime.
Petrol last sat above 150p a litre in November, with average prices having been almost 10p lower in January of this year.
“Inflation has been heading downwards at quite some speed but petrol’s rebound to 150p a litre leaves a big boulder in the road,” AA spokesman Luke Bosdet commented.
“Government data shows that for the fourth-week petrol prices have been higher than at the same time a year ago. This last happened in February 2023.”
Prices have risen after tensions in the Middle East have caused oil to spike, with benchmark Brent Crude sitting above US$91 a barrel in early April, compared to as low as US$75 in early January.
Bosdet said recent declines, aided by seemingly scaled-back tensions between Israel and Iran, could ease pressures on drivers soon.
“Five days of falling wholesale costs, with the value of oil coming off the boil, offers hope that pump prices may not get much worse in the short-term,” he said.
“However, road fuel priced above 150p a litre grabs the attention of drivers and will lead some to re-tighten their belts on other spending.”