Fuel costs spike as crude oil surpasses $120 a barrel – RAC

The RAC has reported that unleaded prices have risen 18.2% since February, with the tensions in the Middle East causing crude oil to rise above $120 a barrel.

Diesel prices also rose 42.4% from February, with its peak hitting 191.54p on 15th April 2026.

Unleaded prices reached their peak on the same date, rising 19.2% to 158.31p.

RAC head of policy Simon Williams said: “The sudden spike in the price of crude oil due to the latest tensions in the Middle East is likely to be a setback for drivers.

“While the price of unleaded at the pumps has fallen by more than a penny since peaking on 15 April at 158.31p, our analysis of wholesale costs shows petrol is now more expensive for retailers to buy than at any time since the war began.

“However diesel, which has come down by 3p a litre, is currently well below its highest wholesale price since the start of the conflict, so should fall further.”

The RAC said that the current petrol market tends to increase around spring as people are driving more, whereas the price of diesel tends to reduce because of other uses for the oil.