Family car drivers are expected to pay around £88 to fill up their tanks this June, according to data from the RAC. While the average price of diesel has dropped by nearly 8p since mid-April—from a peak of 191.54p to 183.75p per litre—fuel costs remain significantly elevated overall.
Petrol prices saw their highest point on 28 May at 159.53p per litre. Currently, this is 26.5p more expensive than at the start of the conflict in Iran, when prices stood at 159.37p. Filling a 55-litre family car tank with E10 or E5 petrol now costs approximately £87.65 — an increase of £14.60 since 28 February. Meanwhile, diesel prices have climbed even higher, with the same tank costing £101.06, which is £22.75 more than pre-conflict levels.
Simon Williams, RAC head of policy, expressed cautious optimism: “It’s encouraging that retailers haven’t changed their pricing strategies due to the Iran conflict. However, concerns remain as competition in the road fuel market is still insufficient and profit margins are historically high.”
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Williams highlighted the recent introduction of the Labour Party Government’s Fuel Finder tool, launched in February, aimed at increasing transparency and competition within the market. “The upcoming CMA report in August will be key, as it will reflect a period of lower wholesale prices,” he added.
Although wholesale diesel prices have decreased sharply, pump prices have only fallen by around 8p since the April peak. The price of oil remaining under $100 a barrel for nearly a week presents a promising opportunity for further price reductions at forecourts.
Drivers are encouraged to use resources like the free myRAC app to find the best fuel prices and mitigate costs.
Similarly, the AA has pointed out that the Fuel Finder’s increased price transparency is likely prompting more competition among retailers. The AA also noted that the average petrol price across UK forecourts reached 159.7p per litre last week, the highest since November 2022, confirming the steady upward trend in fuel costs.