Over the weekend, petrol and diesel prices Increased in the United Kingdom reached fresh highs.

The average price of diesel fuel in the UK has hit 182.71 pence a liter, or $2.31, according to the car group RAC. As a result, the cost of refilling a family automobile has surpassed £100 on average.

Similarly, gasoline prices hit fresh highs of 172.73 pence. The current scenario, according to RAC spokesperson Simon Williams, is caused by swings in the oil market.

Brent’s price, which has been above $115 a barrel for the last week, indicates that the UK gasoline market will become more expensive. Consumers in the United Kingdom aren’t the only ones who are having difficulties.

According to the latest figures from the American Automobile Association, gasoline prices in the United States reached an all-time high of $4,619 per gallon on Monday.

Prices are now 52% more than they were in May 2021. Several reasons have contributed to the increased cost of energy carriers. First, China is gradually removing COVID-19 limitations, and global oil demand is improving.

Second, the European Union is getting closer to passing its sixth set of sanctions on Russia. The EU is set to implement a Russian offshore oil embargo.