A recent escalation in the US-Israel war on Iran has pushed global oil prices to near-record highs, with the UK not immune to the consequences. US Secretary of State Marco Rubio has described the US as 'very fortunate' due to its relatively stable energy position, but UK motorists are facing increasing fuel costs.
According to the US Energy Information Administration, the average US gas price has risen to near $4.50 per gallon, with the disruption in oil supplies caused by the conflict. The UK, however, has seen fuel prices follow suit, with many experts predicting further increases in the coming weeks.
The UK's Office for National Statistics reported a 20% year-on-year increase in petrol prices in February, with diesel prices rising by 25%. As the conflict between the US, Israel, and Iran continues, many are warning of potential shortages and further price hikes.
The UK Government has urged motorists to remain calm, stating that the country's fuel reserves are being closely monitored. The Foreign Office has also updated its travel advice for Iran, warning UK nationals of the 'high risk' of 'arbitrary arrest, detention and imprisonment'.
UK motorists are bracing themselves for the potential impact of the conflict on fuel prices, with many calling for the Government to take action to mitigate the effects. As the situation continues to unfold, one thing is clear: the UK's fuel price woes are unlikely to abate anytime soon.