Drivers are being cautioned against panic buying as queues are forming at certain fuel stations. Some drivers are choosing to fill up their tanks as a precautionary measure.
This surge in activity is linked to rising oil prices due to escalating tensions in the Middle East. Concerns have been raised regarding potential disruptions in oil and gas shipments through the critical Strait of Hormuz amid the conflict involving Iran.
An Iranian official has warned of aggressive actions against vessels attempting to pass through the Strait of Hormuz. The price of Brent crude oil has climbed to $82 per barrel, prompting speculations of potential fuel price increases at the pumps.
There have been reports of fuel shortages at some garages, with unclear reasons behind the depletion. Instances of forecourts displaying “sorry out of use” signs have been noted, such as in Croydon and long queues observed at a Costco forecourt in Liverpool.
Industry experts advise that there is no immediate need for drivers to alter their refueling habits. Despite recent oil price hikes, the effects on pump prices may take some time to materialize. The AA and RAC emphasize the importance of retailers managing fuel price increases responsibly.
While petrol prices have slightly decreased since the beginning of the year, regional variations persist across the UK. Efforts by the government to regulate petrol prices have been implemented, including daily price disclosures by all petrol stations.
Average petrol prices vary, with motorists in Maidstone paying above the national average. Conversely, drivers in Lisburn and Castlereagh are benefiting from lower fuel costs. Notably, a Sainsbury’s garage in County Durham offers one of the lowest petrol prices in England.
For diesel car owners, the Asda garage in East March, North East Lincolnshire, provides the cheapest refueling option. Ongoing global conflicts have resulted in disruptions to oil shipping, leading to increased supertanker costs and a slowdown in the Strait of Hormuz passage.
AA president anticipates further pump price increases in the near future, reflecting the ongoing global oil distribution challenges. To stay updated on fuel prices, users can utilize interactive tools available to find the best deals at nearby petrol stations.