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North East petrol stations latest as fuel costs surge due to Iran war
Wholesale oil prices rose 60% due to Middle East conflict, pushing UK petrol to 137.5p/l and diesel to 151p/l, prompting G7 emergency talks.
- RAC data shows the average petrol at UK forecourts rose nearly 5p to 137.5p and diesel increased 9p to 151p since February 28.
- Missile strikes and drone attacks have slowed Middle East energy production, causing wholesale oil and gas prices to surge since the conflict began on February 28, with oil prices 60% higher.
- Fuel Finder and Petrol Prices data list Whitecourt Service Station, Braintree with petrol at 128.9p and diesel at 151.9p, while Essex, Sussex and Clacton show petrol from 128.9p to 139.9p and diesel below the national average.
- Chancellor Rachel Reeves is expected to join a virtual G7 finance ministers meeting on Monday to discuss releasing petroleum from International Energy Agency reserves, while AA president Edmund King urged cutting 'non-essential journeys' and cabinet minister Steve Reed told motorists not to 'panic'.
- Market uncertainty alone can push prices higher as traders buy to secure supply, and drivers will face rising costs with broader impacts likely in the coming months.
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13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left1Leaning Right0Center7Last UpdatedBias Distribution87% Center
Bias Distribution
- 87% of the sources are Center
87% Center
13%
C 87%
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