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RAC reacts to Opec's decision to continue pumping near-record volumes of oil

RAC Fuel Watch spokesman Simon Williams said: “There was a good deal of trepidation regarding the meeting of the OPEC nations today and the market reacted with some volatility pushing the oil price up as traders expected they may cut production.

"However, after the meeting concluded at 3pm with no cuts planned the market settled and the oil price dropped back down ending slightly lower than yesterday’s barrel price at $41.50 for Brent crude.

"We therefore expect the trend to continue and anticipate that we are likely to see a further fuel price cut of two pence a litre for fuel in the next fortnight.”

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Price of diesel reaches record high
RAC head of policy Simon Williams said: "The average price of a litre of diesel has now reached the highest level in UK history at 199.18p, in what will be a financial blow to households and businesses that use their vehicles regularly. The cost of filling up an average family car is now almost £110, £31 more than it was at the start of the US/Iran conflict. By eclipsing the previous highest price of 199.09p seen in June 2022, the diesel price has entered new uncharted territory. This spells pain not only at the pumps for drivers, but for everyone who buys goods or services that rely on diesel lorries and vans; undoubtedly these increased costs will be passed on to consumers.
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Diesel teeters on brink of all-time high
RAC head of policy Simon Williams said: "The average price of diesel is teetering on the brink of a new all-time high at 198.32p, taking the cost of a 55-litre fill-up for a family car to £109.
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Record diesel price looms
RAC head of policy Simon Williams said: "The price of diesel continues to move steadily towards a new all-time high. A litre now averages 197.31p across the country, meaning it's just under 2p (1.78p) from surpassing the 199.09p record set on 25 June 2022, although we’re aware of many forecourts already charging in excess of this.
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The RAC is an iconic British driving services brand and has been championing drivers since 1897. Today it is one of the UK’s most trusted names, providing complete peace of mind ® to over 15 million drivers across breakdown cover, insurance, and mobile servicing and repairs.

Its nationwide patrol force attends more than two million breakdowns every year, while its position as the UK’s leading independent insurance broker helps motorists find the right cover with confidence. The RAC has also reshaped the service, maintenance and repair market with its Mobile Mechanics, who carry out servicing and repairs at drivers’ homes or workplaces.

Committed to innovation, the RAC is fully electric ready with mobile EV charging technology for stranded drivers, and a suite of digital and data‑led solutions that make motoring easier and more affordable for consumers and fleets. These services come together in myRAC – the all‑in‑one app for vehicle maintenance, cheaper fuel finding and breakdown assistance.

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