"The outlook for the first couple of weeks of May is more ominous. Wholesale petrol and diesel prices jumped by around 5p a litre last week, and are now at their highest since the war began."
"Petrol is up by just a fraction of a penny so far this month, and diesel has continued to slowly drift downwards. But if oil prices remain elevated, further rises at forecourts are all but inevitable."
Drivers in the UK are facing potential fuel price increases following a rise in wholesale oil costs due to escalating tensions in the Middle East. Current average petrol prices are 157.21p per litre, while diesel is at 188.26p. Diesel prices have surged 32.3% since the conflict in Iran began. Although recent price movements have been modest, analysts warn that the market trend is shifting upwards, with expectations of further increases in the coming weeks, adding pressure to already strained household budgets.
Read at London Business News | Londonlovesbusiness.com
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