UK Drivers: Fuel Up on Diesel and Petrol Before 5 PM Tomorrow
Motorists in the UK, particularly in Oxfordshire, are urged to refuel before 5 PM tomorrow due to expected shifts in fuel prices. The call to action follows recent falls in oil prices after the reopening of the Strait of Hormuz and a truce between the United States and Iran.
Impact of Global Events on Fuel Prices
The United States and Iran announced a temporary ceasefire on Tuesday. This agreement restores passage through the Strait of Hormuz, a critical route for about 20% of the world’s daily oil shipments. The closure of this waterway since February caused petrol prices to surge globally.
Predictions for Fuel Prices
Despite the immediate decline in crude oil prices, experts indicate it will take time for consumers to see lower prices at the pump. Significant drops in fuel costs may not occur for at least two weeks.
- Many price increases typically happen towards the weekend, especially on Fridays and Saturdays.
- It’s advised to refuel mid-week to save around 2-3 pence per litre, according to William Fletcher, CEO of Car.co.uk.
Current Fuel Shortages
The fuel supply situation is causing concern across the UK. Reports indicate that several petrol stations in Oxfordshire are experiencing shortages. In Banbury, Tesco was reported to be out of fuel last week.
- Other petrol stations in Norfolk and North Yorkshire also reported similar fuel shortages.
- The shortages are attributed to disruption in supply chains linked to the conflict in the Middle East.
Responses from Major Supermarkets
Supermarket chains are responding to these fuel supply issues. Morrisons and Sainsbury’s have provided updates regarding the situation.
- Morrisons stated their fuel stations are operated by MFG, which declined to comment further.
- Sainsbury’s confirmed they are monitoring stock levels and resupplying where necessary.
As the potential for price increases approaches with the weekend, drivers are encouraged to fill up their tanks before the suggested cut-off time of 5 PM tomorrow. Taking proactive measures can lead to savings, especially during this period of uncertainty in fuel prices.
