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Fuel Prices for UK Motorists Rose by Record in March on Iran War

Geopolitics & WarEnergy Markets & PricesCommodities & Raw MaterialsInflationElections & Domestic PoliticsConsumer Demand & RetailTrade Policy & Supply Chain

A record surge in UK petrol and diesel prices last month, driven by the war in Iran, pushed fuel costs sharply higher and increased inflationary pressure. The spike is intensifying political pressure on Prime Minister Keir Starmer to intervene to help motorists, with potential knock-on effects for consumer spending and transport-sector costs.

Analysis

A record surge in UK petrol and diesel prices last month, driven by the war in Iran, pushed fuel costs sharply higher and increased inflationary pressure. The spike is intensifying political pressure on Prime Minister Keir Starmer to intervene to help motorists, with potential knock-on effects for consumer spending and transport-sector costs.

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