MOTORISTS have been warned to drive less to save fuel as oil prices soar.
The AA said today that drivers should “consider cutting out some non-essential journeys and changing their driving style to conserve fuel”.
Motorists have been warned to drive less to save fuel as oil prices soarCredit: Zenpix
Meanwhile fellow experts at the RAC said Brits should avoid “harsh accelerating and braking” to “help eke out every last mile and save money”.
This comes after oil surged to more than $100 a barrel, hitting a four-year-high.
Simon Williams, the head of policy at the RAC, said: “Unleaded is almost certainly going to reach an average of 140p in the next week or so while diesel looks highly likely to climb to at least 160p a litre.”
The ongoing conflict in the Middle East has effectively closed the Strait of Hormuz, a key trading route that usually carries around a fifth of the world’s oil exports.
Meanwhile, has vowed that it will attack any tankers that are headed for , and the US.
The impact of this is already being felt closer to home, with prices at the pumps rising and the stock market falling.
Petrol now costs £1.38 a litre, 6p more than when the conflict began on February 28, according to the .
Meanwhile, the cost of has risen from £1.42 a litre to £1.51 – an increase of 9p.
If the Strait of Hormuz continues to be restricted then prices at the pump could rise even further.
Meanwhile, Goldman Sachs, has warned that oil could hit around $150 (£112) per barrel by the end of this month.
It means the cost of filling a family car with petrol could rise above the £100 mark for the first time since the invasion of Ukraine.
And millions of Brits will also be worried that the conflict will push up the cost of their energy bills – however there’s no need to panic.
The , which controls the maximum amount energy suppliers can charge you for each unit of energy you use, is currently set at £1,758 a year.
But it is set to fall to £1,641 a year from April until June, which means that customers will be protected from any immediate price rises.
Meanwhile, households that are on fixed tariffs will be protected from price increases until their current deal ends.
But from July could rocket by £160 a year, according to Cornwall Insight.
As a result, the average household could see their bill climb to £1,801 a year.
An Ofgem spokesperson said: “We will continue to monitor the impact on the market closely, but the energy sector is now in a much stronger position than before.
Suppliers’ financial resilience has come a long way – moving from net negative assets during the crisis to £5.4billion adjusted net assets today.
“This protects consumers by acting as a buffer so suppliers can weather unexpected shocks.”
Oil has surged to more than $100 a barrel, hitting a four-year-highCredit: w8media
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