Motorists in the UK are facing rising fuel costs as market analysts warn that petrol prices are 'highly likely' to reach 160p per litre. The increase is being driven by global market volatility linked to the ongoing conflict involving Iran, which has created uncertainty in oil supply chains.

In addition to the rising cost of petrol, diesel prices have also seen a significant increase. According to recent data, the cost to fill a standard 55-litre fuel tank has climbed to nearly £99. These price hikes place additional financial pressure on households and businesses that rely on road transport, as fuel costs remain sensitive to international geopolitical tensions.

While the primary driver cited for these increases is the impact of the Iran conflict on global oil markets, the exact timeline for when prices might hit the 160p threshold remains a projection rather than a certainty. Market experts continue to monitor the situation, noting that any further escalation in the region could lead to additional volatility at the pumps.