UK Petrol Prices Hit Highest Level Since Iran War Began

The UK's petrol prices have hit their highest level since the Iran war began, with the average cost of unleaded reaching over 163p per litre.

Analysts say every $10 (£7. 44) per barrel increase in the oil price pushes up pump prices by roughly 7p a litre.

The conflict has severely disrupted oil supplies across the Middle East, limiting global oil exports and driving up prices.

Crude oil is a key ingredient in petrol and diesel, making higher wholesale costs more expensive for fuel retailers. The price of petrol and diesel is also influenced by demand and refining capacity.

The UK's reliance on oil imports means the country is heavily affected by global oil prices. The conflict has led to a significant increase in fuel prices, with motorists facing higher costs at the pumps.

Drivers can compare fuel prices at different petrol stations - how does it work?

The Middle East conflict sent global oil prices soaring as it effectively closed the Strait of Hormuz — one of the world's key water transport routes for oil, liquid natural gas and other essential commodities — limiting global supplies.

Experts warn it will take time before normal levels of shipping through the Strait of Hormuz resume, and the impact of the war will continue to affect the global economy for potentially months to come.

The UK is heavily reliant on oil and gas imports, with the majority coming from the US and Norway.

Oil price predicted to remain above $100 for rest of year

Get our flagship newsletter with all the headlines you need to start the day. Sign up here.

Reporting by Faarea Masud, Jemma Crew, Alex Daniel, Michael Race, Mitchell Labiak, and Miguel Roca-Terry

How have you been affected by the price rises? Share your experiences