Fuel prices expected to rise over the next few weeks: here’s why
January 23, 2025 by Jamie Edkins
Car changing is a big deal
The price of petrol and diesel is expected to rise over the coming days and weeks thanks to an increase in the cost of crude oil. Here’s what it means for you.
Drivers of petrol and diesel cars are facing a potential increase in the cost of fuel over the next week or so, with an increase in the price of crude oil being a driving factor.
According to PetrolPrices.com, crude oil was trading for between £58 and £61 per barrel in November and December, however this has increased dramatically at the beginning of 2025. On January 13th, a barrel of crude oil had risen to £66.
Another factor is the US Dollar strengthening against the Pound, dropping from $1.25 to $1.22. This exchange rate is inherently related to fuel prices because crude oil is traded in US Dollars, so this could also lead to price rises at the pumps.
So how big a rise can you expect to see? Well it’s hard to tell at this point. The wholesale price of petrol has risen by around 1.5 pence per litre since the beginning of January, while diesel has gone up by four pence per litre. Prices at the pumps have increased by around one pence per litre for both fuels on average, however there’s only so long that fuel stations can absorb this extra cost.
It’s therefore likely that you could see an extra couple of pence per litre added to your fuel bill over the coming weeks. To see exactly how much, keep an eye on our handy fuel price checker. You can enter your postcode and the type of fuel you need and instantly see prices in your area.
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