Oil prices have risen due to the conflict in the Middle East and the British are warned that it can be hit in the pump because the cost of gasoline can also rise
British are warned against increasing your tanks now, as gasoline prices can rise in the coming days due to the Middle East conflict.
Iran launched a missile attack today on an American military base in Qatar, and it fell to detonate its American nuclear sites. Oil prices have already rose to the highest point since January after the American attack during the weekend. The threat of our involvement in the conflict between Israel and Iran warned against severe consequences and after the missiles voted on the Iranian parliament on Sunday to close the Strait of Hormuz – a decisive marine road in about the fifth oil supply in the world.
In order to be given vessels, the Iranian National Security Council will still need to agree to the decision, but even the mere possibility of closing led to an increase in oil prices. This has an effect on the British on the pump.
Now it was agreed on the latest participation by Trump on the “ceasefire” social truth in the war between Israel and Iran, but it is not clear at this stage how it will become.
Looking at the influence on conflict oil in the Middle East, Jorge Lyon, head of geopolitical analysis at Rystad and EX-PEC official, commented: “It is expected that you will expect oil prices jump.
While Susanna Streter, head of money and markets in Hargerifs Lansdon, agreed that it is likely that the ongoing Middle East conflict will lead to high prices.
She said, “Prices in pumps are scheduled for a higher response,” she said. “Although it does not reflect raw prices, due to other factors that must be taken into account, such as the ability to refine and demand other oil uses, gasoline prices tend to follow a similar curve above.
“The new financial pain is still scheduled to come in terms of high prices in pumps, if Iran moves to reduce the flow of tankers through the Strait of Hormuz off Iran.”
She added: “If the strait is closed, there are concerns, it will lead to a shock in oil prices, and another dramatic problem, given how the fuel costs are included in the goods basket that is followed.”
Meanwhile, RAC Simon Williams, head of politics, said that the price of fuel may rise. He said: “The average price of a liter of gasoline increased by 1.5 pixels to 133.5 pixels last week, while diesel rose by 2P to 140 pixels.”
“Although the cost of a barrel of oil jumped by $ 5 to $ 74 in a row after Israel's 13th attack on Iran, it has not yet risen. It now exchanges about $ 77 – $ 12 a barrel, and more expensive than it was during the past three months, which is not enough to cause a significant rise in pumps.
“Since the retail margins were high for some time, the high oil prices pressed at more fair levels for drivers. However, if retailers are assigned to keep margins by about 12 points per liter, we may see the average price of fuel rises more.
“It is also important to note that the price of oil is far from $ 137.72 seen in the first days of the Ukraine war in the spring of 2022, which led to average prices to record levels in the summer of 191.5 pixels for gasoline and 199p for diesel.”
