US EditionPublished • loading... • Updated
Drivers Warned Petrol Prices Could Rise in the UK After Strikes on Iran
UK motorists currently pay an average of 132.68p per litre for petrol, with analysts warning prices could hit record highs within 10 to 12 days due to Middle East conflict.
- On Saturday, US and Israeli strikes hit Iran, prompting Tehran retaliation and market jitters, with some shipments reportedly suspended amid rising tensions.
- The Strait of Hormuz, which carries about 21 million barrels a day, faces heightened risk as any threat to the 100-mile waterway typically pushes crude prices higher.
- Oil benchmarks and forecourt averages both moved sharply as Brent crude surged, rising above $82 on Monday and trading near $80 on Tuesday, while UK pump averages are 132.68p unleaded and 142.34p diesel.
- AA president Edmund King warned motorists could soon feel higher pump prices, while the RAC says crude price rises typically take two weeks to reach forecourts.
- Economists warn Brent could hit $100 if fighting continues, potentially adding 0.6 to 0.7 points to global inflation, despite spare capacity to replace Iranian supply, UK households face pressure in coming months.
Insights by Ground AI
49 Articles
49 Articles
Idaho State Journal+4 Reposted by 4 other sources
The US-Israeli war with Iran in maps, graphics and images
Airstrikes destroy entire blocks and compounds. Missiles soar across borders. Drones rain lethal destruction. The major players, both human and organizational, are their own intricate story. As seen in the map above, the airstrikes from both sides have reverberated across…
The IndependentReposted by 
The Independent (US)
The Independent (US)How will UK petrol prices be affected by US-Iran war and rising cost of oil?
Prepare for ‘record prices at the pumps’, a motoring industry leader has warned
·London, United Kingdom
Read Full Article
Coverage Details
Total News Sources49
Leaning Left6Leaning Right3Center29Last UpdatedBias Distribution76% Center
Bias Distribution
- 76% of the sources are Center
76% Center
L 16%
C 76%
Factuality
To view factuality data please Upgrade to Premium
