Diesel and petrol prices climb higher
Fuel prices have continued to rise sharply since the outbreak of the Middle East conflict, adding further pressure on UK motorists.
Average petrol and diesel prices as of 18 March 2026 (Source: RAC)
The average price of diesel has increased by around 20p per litre, rising from 142.38p on February 28 to 162.66p on Wednesday, according to RAC data.
That jump has added roughly £11.15 to the cost of filling a typical 55-litre family car, particularly impacting drivers who rely on diesel vehicles.
Petrol prices have also risen by around 10p per litre since the start of the Iran conflict, with the average now at 142.62p per litre.
Citi warns oil could hit $200 after Iran infrastructure strikes
Oil prices could double from current levels if Iran carries out large-scale attacks on Gulf energy infrastructure, according to analysts at Citigroup.
The bank said Brent crude could rise to $200 a barrel in a scenario involving widespread strikes on energy facilities or a prolonged closure of the Strait of Hormuz through to June.
The warning came as Iran urged staff to evacuate oil sites in Saudi Arabia, the UAE and Qatar, signalling potential imminent attacks.
Markets reacted swiftly, with oil prices jumping as much as 6.3% to nearly $110 a barrel, following both the evacuation warning and earlier strikes on Iranian gas fields.
Citi also estimated a 50% probability that oil could reach around $120 in the near term, as geopolitical risks continue to dominate pricing.
Analysts said the rally is likely to continue until a clear trigger emerges — either a development that forces the US to scale back its military operations, a more aggressive release of global strategic reserves, or pressure from China on Iran to de-escalate tensions.
