New fuel price warning to millions of UK motorists as oil jumps back above $100

New fuel price warning to millions of UK motorists as oil jumps back above $100Experts say pump prices has begin to level off after a five weeks of relentless hikes, but fresh turmoil in the Middle East may deliver more painCommentsMoneyGraham Hiscott Business and Consumer Editor11:32, 13 Apr 2026View 3 ImagesNew surge in oil prices means hopes of cuts at the pumps could prove "false dawn"(Image: Huchot-Boissier Patricia/ABACA/Shutterstock)A fresh spike in oil prices risks scuppering relief for millions of cash strapped motorists.‌Brent crude jumped back above $100 on Monday after Middle East peace talks collapsed and Donald Trump vowed to blockade the Strait of Hormuz.‌The US move, aimed at putting pressure on Tehran, leaves a fragile ceasefire hanging in the balance and no end in sight to the choke on Middle East energy exports.‌There were fresh warnings that oil could surge even higher, depending on what happens, with Iran threatening to hit back by targeting Gulf ports.View 3 ImagesData shows sky high fuel prices had begun to level off (Image: Maureen McLean/Shutterstock)The near 8% leap in oil prices to $102 a barrel is in sharp contrast to what happened towards the end of last week, when Brent crude dropped below $94 on the back the announcement of the ceasefire.‌At the time, it had been hoped that fuel prices could begin to level off and start to fall, if retailers passed on wholesale price savings.Motoring group the AA said this fall in what retailers pay for fuel - only part of the overall cost drivers are charged - could warrant a 4p a litre drop in petrol prices.It now says the saving is more like 2p a litre, while the potential cut for diesel drivers has halved from 20p to 10p a litre now.‌View 3 ImagesDonald Trump's threat to blockade Iranian ports has triggered a fresh oil price spike (Image: Getty Images)Luke Bosdet, the AA’s fuel spokesman, said: "Last week’s expectations of a big drop in pump prices may have turned into something...