Petrol prices in the UK have surged by more than 10p per liter since the commencement of the US-Iran conflict, as per the most recent data released today. The continuous rise in fuel costs shows no signs of abating.
Government-published retailer data indicates that the average price of unleaded petrol per liter has exceeded 140p today. However, the impact on fuel expenses varies depending on the location within the UK where you refuel your vehicle. In certain regions such as Cherwell and Great Yarmouth, drivers are paying over 12p per liter more for unleaded compared to prices before the conflict between the US and Israel began.
An interactive map illustrates the current average price of unleaded petrol per liter across all UK areas, as reported by retailers on Thursday. It also highlights the price increase since the conflict’s onset on February 28.
The top 20 local authority areas witnessing the highest price hikes post the war outbreak are enumerated, along with the latest average price of E10 unleaded (excluding motorway service stations).
Motorists in North Warwickshire are facing the steepest pump prices, with E10 unleaded averaging just under 145p per liter. Over 130 local authority districts now report average prices exceeding 140p.
The ongoing US-Iran conflict is expected to burden UK drivers with an additional £15 million daily in fuel expenses, as petrol prices soar nationwide. The surge in prices has already elevated the daily expenditure on fuel by £12.9 million since the conflict’s inception on February 28, with projections indicating a further increase surpassing £15 million.
The Competition and Markets Authority (CMA) has intensified its monitoring of petrol and diesel prices due to the Middle East crisis. The CMA’s executive director for markets, Juliette Enser, emphasized the scrutiny on fuel prices to ensure they reflect legitimate cost pressures.
Among major retailers, Asda Express is currently charging the highest average price for unleaded petrol. Asda service stations, distinct from supermarket forecourts, are pricing petrol at an average of 142.9p per liter, marking a 12.1p increase since the conflict initiation. Other prominent brands like Esso, BP, Shell, Murco, and Texaco are also charging motorists over 140p per liter.
Within the big four supermarkets, Tesco leads with a price of 138.2p per liter, slightly higher than Morrisons (137.7p), Sainsbury’s (137.6p), and Asda (137.1p). The Petrol Retailers Association (PRA) has declined a meeting with Chancellor Rachel Reeves, citing concerns of incitement against fuel retail staff due to inflammatory language used by ministers.
The PRA withdrew from the meeting with Reeves and Energy Secretary Ed Miliband over fears of public abuse towards forecourt workers following recent ministerial rhetoric. The association sought assurances for a private meeting, which were not provided, leading to the decision to protect retail staff by abstaining from the discussion.
The CMA has notified fuel retailers of enhanced monitoring plans for petrol and diesel prices amidst the ongoing Middle East turmoil.