“The price drivers pay at the forecourt depends heavily on the global oil price, which has been rising following the end of the ceasefire,” RAC head of policy Simon Williams said
Road users are being warned that fuel prices are set to hit levels not seen since the height of the US-Iran conflict.
Unleaded rose by 0.6p over the weekend to an average of 157.81p per litre, while diesel rose by a 1p to 175.71p.
Petrol has increased by more than 6.5p a litre and diesel by 9p since the start of the month. This has added £3.50 and £5 respectively to the cost of filling up a family car.
RAC head of policy Simon Williams said: “Pump prices continued their inevitable rise over the weekend, with unleaded up another 0.6p to an average of 157.81p and diesel a penny to 175.71p.
“The outlook for drivers is pretty grim.
“It looks highly likely now that petrol will hit 160p a litre – its highest level since the United States/Iran conflict began – and diesel 180p by the end of this week, off the back of an elevated oil price.”
The US has and Iran have been in conflict since late February when joint American-Israeli strikes were carried out on key Iranian sites.
Iran retaliated by striking sites across the Middle East and closing the Strait of Hormuz waterway, through which 20% of global oil traded passes.
Despite a brief reprieve after the US and Iran’s Memorandum of Understanding was signed last month, the re-closure of the strait and the restart of the conflict this month has once again shaken markets.
Mr Williams said: “The price drivers pay at the forecourt depends heavily on the global oil price, which has been rising following the end of the ceasefire.”
“A short-term pause in hostilities between the countries is unlikely to be enough to quell the oil price.
“What’s needed is a sustained drop over several weeks and, unless that happens, elevated prices at the pump look like they’re here to stay.”
Motorists have been urged to seek the best deals.
“We continue to encourage drivers to use free apps like myRAC to find the cheapest fuel wherever they are,” Mr Williams said.
Fuel price comparison platform FuelRadar has also urged motorists to think carefully about when they fill up.
In advice published on its website, the company says drivers should “avoid the Friday rush”.
It augured that demand generally increases as people finish work and head away for weekend trips.
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