UK petrol prices climb 5p in a week to 167.17p a litre as Iran war lifts oil
AI Market Summary
Escalating US-Israel conflict with Iran is disrupting Middle East crude flows, pushing Brent back to $100/bbl and driving a sharp weekly jump in UK retail fuel prices (both petrol and diesel +5p/litre). The reported strikes on Iranian tankers and attacks on Saudi oil facilities increase supply-risk premia, tightening near-term energy balances and raising inflation sensitivity across risk assets.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+5.27%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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UK pump prices for unleaded petrol rose by 5p over the past week to 167.17p a litre, with diesel also up 5p to 188.63p, according to the RAC. The motoring group said the moves marked the biggest weekly increase since April. Fuel costs have jumped as the US-Israel war with Iran disrupts crude oil supplies across the Middle East, pushing Brent crude back to $100 a barrel for the first time since July. On Tuesday, US forces struck five Iranian tankers and Yemen's Iran-backed Houthi movement attacked oil facilities in Saudi Arabia, adding to upward pressure on prices.
