UK Petrol and Diesel Prices Halt 43-Day Rise After Crude Oil Drop

# UK Petrol and Diesel Prices Halt 43-Day Rise After Crude Oil Drop The price of petrol and diesel stopped rising after 43 days of increases, according to the RAC. This halt follows a drop in crude oil prices from recent peaks, triggered by a temporary ceasefire in the Gulf. The cost of fuel on wholesale markets decreased in response to the lower crude oil prices.

Petrol is now selling for just over 158p a litre on average, as reported by the RAC. This represents a rise from 133p a litre in late February. Diesel prices increased from 142p a litre to 192p a litre over the same period.

The cost of filling up a family car with petrol has risen by £14, per RAC data. For diesel, the cost of filling up a tank has increased by £27. Diesel has gone up more than petrol because it is harder to refine.

The UK imports around half of its fuel usage from abroad. Simon Williams, RAC's head of policy, said wholesale fuel costs are now significantly lower than they were at the start of the month, so forecourt prices should begin to come down. Simon Williams also stated that as things stand, petrol and diesel would be expected to drop by several pence a litre in the next week or so.

These developments come after sustained price increases linked to global oil market fluctuations.

prices rose steadily from 133p a litre in late February to the current average of just over 158p a litre.

Diesel saw a sharper increase, moving from 142p a litre to 192p a litre. The 43 days of consecutive rises ended with the recent stabilization. The temporary ceasefire in the Gulf contributed to the decline in crude oil prices from their peaks.

Wholesale fuel costs decreased as a result. This shift marks a change from the prior upward trend in fuel expenses.