UK motorists are being urged to fill up their vehicles as petrol prices are on the rise, with forecasts suggesting they could hit £2 per litre in extreme scenarios. The average price of unleaded petrol has seen a recent uptick, currently standing at 131.71p per litre, a small increase from 131.46p on 9 February. This marks the first increase in petrol prices after months of decline that started in mid-December, raising concerns among drivers about potential financial strain from soaring fuel costs.

Experts suggest that the rise in petrol prices is linked to renewed volatility in global energy markets. The price of Brent crude oil has surged past $71 a barrel, its highest since July 2025, largely propelled by heightening tensions in the Middle East and the protracted conflict between Russia and Ukraine. Additionally, looming worries regarding Donald Trump's tariffs and their broader implications for international trade are also adding to the uncertainty in commodity markets.

Despite the increase, current petrol prices are still significantly lower than the peak experienced in July 2022, when prices reached an eye-watering 191.55p per litre due to the impacts of the Russia-Ukraine war on global supply chains. The current uptick is a cause for concern for consumers as these developments may lead to further inflationary pressures in the economy, impacting the overall cost of living in the UK.