Petrol prices in the United Kingdom have risen to their highest levels since November 2022 ahead of the busy August bank holiday weekend, when millions of motorists are expected to take to the roads. On Thursday, the average price for unleaded petrol reached 161.6 pence per litre, marking the peak for this summer. Diesel prices also climbed, reaching an average of 183.4 pence per litre, a level not seen since June.
Analysts link the surge in fuel costs to ongoing instability in global oil markets, compounded by conflicts in the Middle East, which have pushed up operating expenses for drivers. The rise in prices comes at a time when demand is expected to spike, with the RAC estimating that approximately 20 million car journeys will be made over the bank holiday weekend—the highest level since it began monitoring summer holiday travel in 2015. The motoring organization warned that major routes are "likely to be mired in traffic" due to the increased volume.
For typical family vehicles with a 55-litre fuel tank, filling up will cost approximately £89 this weekend, a significant increase compared with £74 during last year's August bank holiday. This price point nearly matches levels seen last November, when petrol averaged 163.6 pence per litre and diesel hit 187.9 pence, following Russia’s invasion of Ukraine.
The recent price rise has drawn criticism from consumer and competition watchdogs. The Competition and Markets Authority (CMA) recently highlighted concerns about the road fuel sector, citing a “lack of effective competition” among retailers. The CMA pointed to widespread use of passive pricing strategies, which it said have contributed to sustained high profit margins within the industry.
Echoing this view, Luke Bosdet from the AA said the situation reflects a return to some of the worst conditions for UK fuel pricing. He described pump prices as “overpriced and uncompetitive,” expressing frustration that motorists are bearing the brunt of elevated costs during a peak travel period. As drivers prepare for the busy weekend, these factors combine to create both financial pressure and potential congestion on the nation’s roads.