"The AA and the RAC, two of the UK's largest roadside assistance organizations, advised drivers on Monday to avoid non-essential journeys and conserve fuel after oil prices soared above $100 a barrel. Disruption to shipping routes through the Strait of Hormuz during the war in Iran has driven up oil prices."
"RAC executive Simon Williams said drivers in the UK should continue filling up their vehicles as normal but avoid 'harsh accelerating and braking,' warning that the group expects fuel prices to keep rising. Eugene King, president of the AA, said that UK road users should consider cutting out non-essential journeys and changing their driving style to conserve gas."
"Oil prices crossed the $100-a-barrel mark for the first time since 2022 on Monday, with crude spiking to nearly $120 overnight in its biggest one-day jump since 2020 before paring back. The oil shock sent global stock markets tumbling on Monday, with the Dow Jones and S&P 500 both down around 1% at the opening bell."
Oil prices have surged above $100 per barrel following conflict in Iran, with disruptions to shipping through the Strait of Hormuz reducing global crude oil supply. The AA and RAC, major UK roadside assistance organizations, recommend drivers avoid unnecessary journeys and adopt fuel-conserving driving practices such as avoiding harsh acceleration and braking. Oil prices reached nearly $120 per barrel in their largest single-day jump since 2020 before declining slightly. Global stock markets responded negatively, with major indices dropping approximately 1%. In the US, gasoline prices have increased 27 cents per gallon within a week. Approximately 20% of the world's daily crude oil typically passes through the Strait of Hormuz.
Read at Business Insider
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