Donald Trump’s declaration that the US-Iran ceasefire is effectively over has been described as an “ominous” development for UK petrol prices.
Donald Trump’s declaration that the US-Iran ceasefire is effectively over has been described as an “ominous” development for UK petrol prices.
UK diesel prices recorded their biggest monthly fall on record in June, according to RAC Fuel Watch data, as lower oil prices fed through to forecourts.
UK motorists are beginning to benefit from falling fuel costs as easing tensions in the Middle East drive oil prices sharply lower.
British motorists may soon benefit from lower petrol and diesel prices after crude oil fell to its lowest level in three months amid hopes of a diplomatic breakthrough between the
Drivers avoided filling up at petrol stations last month as soaring fuel prices triggered by the Iran conflict prompted motorists to delay purchases, according to the AA.
UK fuel prices have started rising again following last week’s sharp surge in oil markets, which briefly pushed crude prices to their highest level in four years.
Farmers across Britain are beginning to feel the impact of the global energy crunch, with diesel supplies tightening and rationing emerging in some areas.
A large oil drilling rig toppled over Friday afternoon on Alaska’s North Slope while being moved across the tundra, authorities said.
Petrol stations have been accused of overcharging drivers after the competition watchdog reported a sharp rise in fuel profit margins.
Fuel Price Drop May Be Short-Lived as Oil Surges on Middle East Tensions
The Kremlin can now largely disregard the G7’s price cap on Russian oil exports, as the global benchmark price has fallen below $60 a barrel.
Oil prices are hovering near their lowest point in four years, prompting renewed calls for fuel retailers to lower pump prices.