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Petrol hits highest UK price since April with fears it could rise to 150p per litre

ended 08. July 2025

PETROL prices are at their highest point since April and they could be set to increase even further to 150p per litre, experts fear.

The average price of petrol at the pump is now the highest it's been since April, new figures released today by the Department for Energy Security & Net Zero show. 

It is 133.19p per litre - the most expensive it has been since April 28th. Diesel is now 140.58p per litre - also the most expensive it has been since April 28th.

Fighting between Israel and Iran in the Middle East, and the US targeting nuclear sites in Iran, caused the the cost of a barrel of crude oil to jump from $64 in late May to a high of almost $79 in late June.

The price is currently just under $70, but experts fear that could rise further again if the conflict escalates again.

Tony Redondo, Founder at Cosmos Currency Exchange, said the price of petrol at the pump has the potential to shoot up to 150p per litre.

He continued: “Brent crude oil prices have jumped by 3% in the last two weeks on lingering Middle East tensions, compounded by higher retailer margins as businesses cover the cost of the ‘Awful April’ tax rises.

"There is also  speculation that fuel duty may be increased for the first time since 2011 in October’s budget, even though taxes already account for 60% of petrol prices at the pump. 

"Prices could rise to 150p/L if oil prices rocket to $100 if the Iran-Israel conflict reignites or Iran closes the Straits of Hormuz."

Samuel Mather-Holgate, Independent Financial Adviser at Mather and Murray Financial, said US President Donald Trump may have an incentive for keeping oil prices high.

He added: “After the first half of the year blighted by tension in the Middle East, petrol prices are sky high. With calmer times potentially ahead, these could retreat just as quickly though. 

"Trump may want prices to stay higher for longer to incentivise US oil giants to ‘drill baby drill’, but he won’t like the effect on inflation this causes. 

"Higher inflation means higher interest rates, so the possibility that filling up your tank may only be more expensive for a short period will be welcomed by most.”

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Editor
Tony Redondo
Founder at Cosmos Currency Exchange
Brent crude oil prices have jumped by 3% in the last two weeks on lingering Middle East tensions, compounded by higher retailer margins as businesses cover the cost of the ‘Awful April’ tax rises.

There is also speculation that fuel duty may be increased for the first time since 2011 in October’s budget, even though taxes already account for 60% of petrol prices at the pump.

Prices could rise to 150p/L if oil prices rocket to $100 if the Iran-Israel conflict reignites or Iran closes the Straits of Hormuz.
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Editor
Samuel Mather-Holgate
Managing Director & IFA at Mather and Murray Financial
After the first half of the year blighted by tension in the Middle East, petrol prices are sky high. With calmer times potentially ahead, these could retreat just as quickly though. Trump may want prices to stay higher for longer to incentive US Oil giants to “drill baby drill”, but he won’t like the effect on inflation this causes. Higher inflation means higher interest rates, so the possibility that filling up your tank may only be more expensive for a short period will be welcomed by most.