UK fuel prices are increasing again after peace talks to end the US-Israel war with Iran collapsed. Prices surged at the conflict's start, fell after a framework deal in June, but are now rising due to resurfacing tensions, with analysts predicting further hikes. The government postponed a fuel duty increase.
UK motorists saw the fastest monthly drop in diesel prices in June, falling 17p a litre, according to RAC. Prices have nosedived since the US-Iran conflict ended, with further drops expected by the AA, though still higher than pre-conflict levels.
UK motorists are experiencing lower fuel prices, with further reductions anticipated, following a US-Iran agreement that ended their conflict and eased energy supply disruptions. Prices are at their lowest since early March but remain above pre-conflict levels, while a planned fuel duty increase has been postponed.
UK fuel prices have started to decline after 46 consecutive days of increases – the longest run on record – driven by the US-Israel war with Iran that began on 28 February. Petrol peaked at 158.3p and diesel at 191.5p per litre, with typical family cars now costing £14 more for petrol and £27 more for diesel. While prices have fallen slightly since 16 April, they remain above pre-war levels as the Strait of Hormuz remains effectively closed, disrupting 20% of global oil supply.
