Iran oil crisis sparks fastest monthly rise in fuel prices

Drivers endured record monthly increases in fuel prices in March amid the Iran oil crisis, according to new analysis.

The RAC said the average price of a litre of petrol at UK forecourts rose by 20p from 132.8p on March 1 to 152.8p on the last day of the month.

Drivers of diesel vehicles suffered an even bigger price hike, with the average cost of a litre of the fuel soaring by 40p from 142.4p to 182.8p over the same period.

The increases surpassed the biggest monthly jumps of 17p for petrol in June 2022 and 22p for diesel in March 2022, which followed Russia’s invasion of Ukraine.

Despite last month’s record rises, average fuel prices are still below the all-time highs of summer 2022 when petrol peaked at 191.5p per litre and diesel at 199.0p per litre.

RAC head of policy Simon Williams said: “March has been truly unprecedented – fuel prices have never risen this fast in a single month.

“The increases drivers have had to endure in March 2026 far exceed those seen in the early days of the war in Ukraine.

“While the monthly rise in a litre of petrol is bad enough, the jump in the cost of diesel is even harder to swallow at 40p a litre.

“With long-term RAC research showing eight-in-10 people are dependent on their vehicles, these costs must really be taking their toll on households as well as businesses.”