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UK Fuel Stations Hit by Supply Shock as Prices Continue to Rise
(MENAFN) British fuel stations are buckling under surging demand and tightening supply, with some outlets reporting shortages Friday as the fallout from the US-Israel-Iran war continues to hammer global energy markets.
The disruption stems largely from a near-total stoppage of traffic through the Strait of Hormuz — a critical artery for international energy trade — following the outbreak of hostilities, placing relentless upward pressure on oil and gas prices worldwide.
Pump prices across the UK have climbed sharply since the war began, with petrol surpassing £1.5 per liter ($7.25 per gallon), marking a roughly 15% increase compared to pre-war levels. Diesel has surged even further, hitting £1.77 per liter ($8.54 per gallon).
Allan Leighton, chief executive of Asda — one of Britain's largest retail chains — acknowledged Friday that a "small proportion" of the company's forecourts are experiencing temporary constraints, attributing the strain directly to an extraordinary spike in consumer activity.
"We are seeing a very strong increase in demand due to price volatility," Leighton said, noting that fuel sales volumes have climbed substantially in recent days.
He painted a stark picture of an industry struggling to keep pace, warning that disruptions are not yet over. "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 said.
The crisis traces back to Feb. 28, when the US and Israel launched a coordinated offensive against Iran, triggering a rapidly escalating cycle of retaliation. Tehran has since responded with successive waves of drone and missile strikes directed at Israel, Jordan, Iraq, and Gulf states hosting US military installations, inflicting both casualties and infrastructure damage while sending shockwaves through global aviation and financial markets.
With no resolution to the conflict in sight, analysts warn that fuel prices and supply disruptions across the UK and broader Europe are likely to worsen before any meaningful relief emerges.
The disruption stems largely from a near-total stoppage of traffic through the Strait of Hormuz — a critical artery for international energy trade — following the outbreak of hostilities, placing relentless upward pressure on oil and gas prices worldwide.
Pump prices across the UK have climbed sharply since the war began, with petrol surpassing £1.5 per liter ($7.25 per gallon), marking a roughly 15% increase compared to pre-war levels. Diesel has surged even further, hitting £1.77 per liter ($8.54 per gallon).
Allan Leighton, chief executive of Asda — one of Britain's largest retail chains — acknowledged Friday that a "small proportion" of the company's forecourts are experiencing temporary constraints, attributing the strain directly to an extraordinary spike in consumer activity.
"We are seeing a very strong increase in demand due to price volatility," Leighton said, noting that fuel sales volumes have climbed substantially in recent days.
He painted a stark picture of an industry struggling to keep pace, warning that disruptions are not yet over. "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 said.
The crisis traces back to Feb. 28, when the US and Israel launched a coordinated offensive against Iran, triggering a rapidly escalating cycle of retaliation. Tehran has since responded with successive waves of drone and missile strikes directed at Israel, Jordan, Iraq, and Gulf states hosting US military installations, inflicting both casualties and infrastructure damage while sending shockwaves through global aviation and financial markets.
With no resolution to the conflict in sight, analysts warn that fuel prices and supply disruptions across the UK and broader Europe are likely to worsen before any meaningful relief emerges.
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