UK drivers warned petrol prices ‘most expensive since war started’

Earlier this month and last, there were widespread issues across the UK, including Oxfordshire, as drivers faced empty pumps at forecourts amid the conflict in the Middle East.

Prices also soared before eventually falling, triggered by the reopening of the Strait of Hormuz and a temporary truce between the United States and Iran.

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Now, RAC head of policy Simon Williams has warned drivers that the price of petrol has become the most expensive since the conflict began.

“The sudden spike in the price of crude oil due to the latest tensions in the Middle East is likely to be a setback for drivers,” he said.

“While the price of unleaded at the pumps has fallen by more than a penny since peaking on 15 April at 158.31p, our analysis of wholesale costs shows petrol is now more expensive for retailers to buy than at any time since the war began.

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“However, diesel, which has come down by 3p a litre, is currently well below its highest wholesale price since the start of the conflict, so should fall further.

“The switch round in wholesale cost trends is partly due to the time of year, as the market for petrol tends to increase in the spring as people in the US begin to drive more, whereas the price of diesel often reduces as Western Europe’s use of heating oil, which is made from the same part of the barrel, lessens as the temperature warms up.”

This comes after reports that Tesco in Banbury was out of fuel at the end of last month, while others said there was no diesel at several other petrol stations in Oxfordshire.