Rising oil prices are squeezing British drivers and small businesses as global tensions push fuel costs to unprecedented highs. With diesel now exceeding two pounds per litre, motorists report spending nearly half their daily earnings just to fill their tanks. The surge follows disruptions in Gulf oil supplies since the escalation of the US-Israel conflict, triggering broader economic strain. Experts warn the spike will ripple through the economy, hitting household budgets and local enterprises hardest.
Motorists and small businesses struggle with costs as Iran war drives up cost of oil worldwide‘Half my day’s pay goes to filling up my car’Business live – latest updatesBritish motorists face more pressure at the pumps after the average price of diesel climbed to a record £2 a litre.The price of a litre at UK forecourts has risen 40.5% since late February, when the US-Israel war on Iran began disrupting supplies of crude and refined oil products from the Gulf, leading to cost increases across the economy. Continue reading...
