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Fuel Prices Soar Amid Middle East Conflict
3 Mar
Summary
- Fuel orders increased by 8p per litre in under a week.
- Suppliers can raise prices after stock has been ordered.
- Motorists may face a 10p per litre rise due to price fluctuations.
A petrol station owner has expressed dismay over escalating fuel prices, attributing the increases to the current Middle East conflict. Leza Stephensen, manager at Worcester's Tolladine Service Station, noted a significant rise in fuel costs.
Stephensen reported that her fuel orders have increased by 8p per litre within a single week. This surge follows Iran's recent retaliatory attacks on Gulf states and warnings regarding maritime passage through the Strait of Hormuz, a vital global oil and gas shipping route.
The station manager explained that suppliers are permitted to adjust prices even after an order has been placed, citing volatile market conditions. This practice, coupled with VAT, could lead to an approximately 10p per litre increase for consumers.
Currently, unleaded fuel is priced at 134.9p per litre and diesel at 144.9p per litre. Stephensen indicated that further price adjustments are inevitable, though she awaits local market reactions before finalizing new prices. She expressed uncertainty about future fuel costs.
