UK Faces Temporary Fuel Shortages as Prices Spike
The ongoing conflict involving the US, Israel, and Iran has severely affected traffic through the Strait of Hormuz, a key route for global energy shipments, intensifying pressure on oil and gas supplies and contributing to rising costs.
Since the outbreak of hostilities, petrol prices in the UK have surpassed £1.50 per liter ($7.25 per gallon), marking roughly a 15% increase compared with pre-war levels, while diesel has reached £1.77 per liter ($8.54 per gallon).
Allan Leighton, CEO of Asda, one of the country’s largest retail chains, stated that only a “small proportion” of its fuel stations are experiencing temporary shortages.
“We are seeing a very strong increase in demand due to price volatility,” Leighton said, noting a significant rise in fuel sales volumes. “Clearly, demand has outpaced supply. Supply is tight, and we are all working hard on this. The issue is temporary. There may be some disruptions during delivery periods, and we expect this to continue for some time,” he added.
The surge in fuel prices and temporary shortages follow escalating regional hostilities after the joint US-Israeli offensive against Iran that began on February 28.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
