According to the RAC, the average price of unleaded gasoline has increased to 158.52p a litre, the highest level since the beginning of the Iran conflict. When the crisis started on February 28, the price of gasoline and diesel skyrocketed, and drone raids and missile strikes caused energy production and transportation throughout the Middle East to slow down or stop completely.
According to the RAC, the price of petrol last peaked on April 15 at 158.31p, then dropped by more than a penny until the beginning of May, when it started to rise once more. Additionally, the driving association stated that unless there was a “dramatic and sustained drop” in oil prices, unleaded petrol will probably rise to at least 160p per litre in the coming weeks.
The global benchmark for wholesale oil prices, Brent crude, is presently trading at roughly $111 per barrel. Brent was trading at roughly $73 per barrel before to the incident. Prices at the pump have increased as a result. At the beginning of the conflict, the average price of unleaded gasoline was 132.83p per litre.
Diesel costs 142.38p per litre on average. The current price per litre is 185.92p.
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