"The price of oil increased after Iran warned vessels not to cross the Strait of Hormuz, an essential waterway in the south of the country where approximately 20 per cent of the world's oil and gas is shipped."
"In February, all petrol stations were instructed to publish their prices every day to enable motorists to source the best deals. Under the Fuel Finder Scheme, garages and fuel stations were requested to report their prices to third-party apps and websites within 30 minutes."
"The RAC said that the average price of petrol had fallen by more than 5p since the start of December, meaning drivers can save nearly 3 every time they fill up the average 55-litre family car compared to two months ago."
Middle East tensions and Iran's warnings about the Strait of Hormuz, through which 20% of global oil and gas passes, have raised concerns about fuel price increases. However, oil prices have recently fallen below $60 per barrel, bringing UK petrol prices down to 131.91p per litre—levels not seen since July 2021. The government introduced the Fuel Finder Scheme in February, requiring petrol stations to publish daily prices within 30 minutes to third-party apps, potentially saving households £40 annually. Petrol prices have dropped over 5p since December, saving drivers nearly £3 per 55-litre tank fill-up. Diesel prices also decreased by 3p per litre to 140.97p. Some garages report fuel shortages, though causes remain unclear.
Read at www.standard.co.uk
Unable to calculate read time
Collection
[
|
...
]