Are fuel prices actually rising? Yes – but there’s no need to panic

Drivers are feeling the pinch as fuel prices climb in early March 2026 after several weeks of relative stability. Pump costs are rising due to higher wholesale oil prices, driven by geopolitical tensions in the Middle East and shipping disruptions through the Strait of Hormuz, a major global oil route.

The average price of unleaded petrol is around 137.51p per litre, while diesel is roughly 150.97p per litre, according to RAC Fuel Watch. PetrolPrices.co.uk reports similar figures, with prices up by several pence compared with late February.

Motoring experts and industry analysts say there’s no need for drivers to panic buy, as prices are still well below the record highs seen during the 2022 energy crisis, when petrol briefly approached £1.90 per litre.

The industry also reassures that UK fuel supplies remain strong, and buying as usual helps avoid unnecessary pressure on forecourts, supporting more stable prices for all motorists. Here’s why panic buying fuel isn’t the solution and how to handle higher prices.

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Why fuel prices are ticking up

Fuel at the pump is influenced by several factors:

• Global crude prices: Oil has climbed above $100 per barrel (9 March) amid the ongoing crisis in the Middle East, pushing wholesale costs higher worldwide.
• Wholesale lag: Retail prices often respond with a delay, so the increases drivers see now may reflect market movements from a week or two ago.
• Taxes and duties: Around half of what you pay comes from fuel duty and VAT, which remain fixed. This helps cushion some of the impact of rising oil prices.

Why panic buying fuel isn’t helpful

It’s natural to worry when hearing about rising fuel prices, but industry and government experts stress there is no real shortage in the UK.

Gordon Balmer, executive director of the Petrol Retailers Association, which represents around 65% of UK forecourts, said 9 March was busier than usual, with sales up 30%. He reassured drivers that this is not at the “panic buying stage” and “certainly not at a point where forecourts are running out of fuel.”

He added: “Some people are filling up in anticipation of a pump price increase, but we would ask people to continue buying fuel as normal, because any price changes take time to filter through to the pump.”

While a few stations experienced queues or temporarily closed pumps, most were due to power outages, maintenance, or delayed deliveries rather than panic buying. Supermarkets selling petrol reported no unusual demand.

Queues affect everyone: filling up more often won’t protect you from price rises, but can increase local demand, causing bottlenecks and the illusion of scarcity.

Simon Williams, head of policy at the RAC, said that while global conflicts can influence UK fuel prices, drivers shouldn’t expect sudden spikes. “Wholesale fuel costs have been rising gradually. Even though Brent crude rose by $5 a barrel on 4 March to $78, the impact of this shouldn’t be felt for over a week.”

Edmund King, president of the AA, noted that while prices may rise in the coming weeks, petrol is still significantly cheaper than the same time last year, making a full tank over £3.50 less expensive than in early March 2025. He added that prices often stabilise, as markets tend to react before consumers, and costs may soften once geopolitical risks ease or supply routes are secured.

Richard Hunter, head of markets at investment platform Interactive Investor, reminded consumers that oil price spikes are often temporary: “Oil price spikes usually follow conflict outbreaks, but the bigger concern is how long the situation escalates, rather than the immediate effects.”

Tips to handle higher prices

Here are a few cost-effective ways to reduce the impact of rising fuel costs without panic buying:

1. Shop around for the best pump price: Prices can vary significantly between forecourts. Apps and websites such as PetrolPrices.co.uk make it easy to find cheaper stations nearby.
2. Plan journeys efficiently: Combine trips, avoid unnecessary journeys, and drive more smoothly. Gentle acceleration, maintaining steady speeds, and reducing idling can stretch every litre further.
3. Use loyalty and cashback schemes: Many supermarkets offer fuel discounts linked to grocery spending, and some credit cards provide cashback on fuel purchases – every penny saved helps.
4. Consider alternatives: Electric cars or public transport can reduce dependency on petrol and diesel over the long term.
5. Keep your car well-maintained: Regular servicing, proper tyre pressure, and timely oil changes can improve fuel efficiency.
6. Lighten your load: Remove unnecessary items from your car; heavier vehicles consume more fuel.
7. Check fuel types: Some modern cars can run on mid-grade or lower-octane fuel without affecting performance, which can save a little at each fill-up.
8. Carpool when possible: Sharing rides with colleagues, friends, or family spreads the cost of fuel and reduces wear on your vehicle.

Short-term price blips are normal

Yes, you’re likely seeing slightly higher fuel prices right now – driven largely by global oil market volatility rather than a shortage or crisis at the pumps. But these changes are generally moderate and well within recent historical ranges, not unprecedented.

We advise staying calm, planning your journeys carefully, and comparing prices at different forecourts to save money while navigating normal market fluctuations.

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