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The Latest Breaking News from Petrol

Reeves and Miliband to demand answers from energy and fuel bosses over rip-off price rises

The chancellor and energy secretary to meet energy bosses to warn against profiteering amid soaring oil prices

The Independent UK

Rachel Reeves asks watchdog to ‘crack down’ on fuel ‘rip-offs’ amid Iran war

The Chancellor and Energy Secretary Ed Miliband will hold a meeting at Downing Street with petrol retailers and energy suppliers.

Evening Standard

Watchdog confirms it is looking into petrol prices amid allegations of ‘gouging’ after US-Iran war

The authority warned in December that retailers’ fuel margins remained ‘persistently high’

The Independent UK

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'We'll make a lot of money,' says Trump as oil price jumps leaving millions facing higher energy, petrol and food bills

‘The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,’ says the US president

Evening Standard

Why Petrol Prices Haven’t Risen Despite $100 Oil

Fuel prices influence nearly every part of daily life. From daily commuting to the cost of groceries and transportation, even a small change at the petrol pump can affect the entire economy. Recently, global oil markets witnessed a dramatic shift as crude oil prices surged close to $100 per barrel,…

MyLifeXP

TotalEnergies caps petrol and diesel prices at French service stations

French energy giant TotalEnergies announced on Thursday it will cap petrol and diesel prices at its service stations in mainland France for the next three weeks, as oil prices surge amid the conflict in the Middle East.

Radio France Internationale

Australia relaxes petrol standards for 60 days as NSW premier warns of fuel shortage at hospitals

Chris Minns says ‘no need for panic buying’ as state government considers emergency supplies and impact on critical services

The Guardian - AU

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Nations will release an extra 400 million barrels of oil to the market. All we need to do now is not panic at the pump

Despite being one of the world’s top exporters of fossil fuels (coal and gas), Australia has little left of its own oil. Neither does New Zealand.

The Conversation

Fuel supply boosted as oil price threatens record highs

The government has temporarily lowered Australia's fuel quality standards to boost supplies as the war in the Middle East disrupts global markets.

AAP

Australian Petrol Prices Set To Skyrocket After Strikes In Strait Of Hormuz

Australians are being warned to brace for higher petrol prices as attacks on ships in the Strait of Hormuz choke global oil supplies.

Pedestrian.tv

London's most expensive petrol: Garage selling 253.9p-per-litre unleaded as prices soar amid Iran war

Motorists hit with steepest fuel price increases since Russia’s invasion of Ukraine

Evening Standard

Swiss bus fire that killed six caused by ‘disturbed’ man setting himself alight, prosecutor says

Man in his 60s from Berne area had been reported missing before incident, say authorities in Fribourg canton

The Guardian - UK

Australians hit by soaring petrol prices now face expected blow of interest rate rise

Economists predict RBA board will hike cash rate to 4.1% next week as inflation climbs and energy costs surge

The Guardian - AU

Panic buying just makes shortages worse. Why do people do it anyway?

Have you visited a petrol station recently? You might have been in for a shock – and not just because the price on display was probably over A$2 a litre.

The Conversation

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The Conversation

Amid a surge in energy prices, a windfall tax on gas profits could be the best way to protect households

The war in Iran has once again exposed how vulnerable the world’s energy markets are to geopolitical disruption. In wild swings, benchmark crude oil prices spiked as high as US$120 per barrel, roughly 50% higher than before the conflict, before sliding below $100.

The Guardian - UK

Farage delivers energy sermon at the pump – just don’t mention the war

Reform leader’s Derbyshire petrol station stunt grinds to halt when questions on Iran leave him short-tempered

The Independent UK

From energy bills to petrol and groceries: How the Iran-US war could affect cost of living in the UK

The impacts of the conflict have been compared to Russia’s war on Ukraine, which pushed prices up for British households

The Guardian - UK

How are EU and member states reacting to energy crisis triggered by Iran war?

Prospect of Trump easing US sanctions on Russian oil is a nightmare for the bloc as nations work out how to respond

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The Independent UK

Pakistan switches to 4-day week and sends children home from school to preserve fuel

PM announces austerity measures including a four-day work-week for public offices and ban on iftar parties during Ramadan

The Independent UK

Nigel Farage sparks more confusion over Reform stance on Iran war

Farage said on Tuesday Britain should ‘not get ourselves involved in another foreign war’

Evening Standard

Nigel Farage vows to reverse fuel duty increase in Reform petrol station stunt

The party said it would slash net zero initiatives to save £13 billion a year.

Evening Standard

Donald Trump's Iran war is making Britain poorer, warns Nigel Farage's Reform UK amid oil cost turmoil

Petrol prices, mortgage rates and oil home heating costs are rising as the UK economy is rocked by the fall-out from the Middle East conflict

The Guardian - AU

‘Vicious cycle’: panic buying is biggest risk to Australia’s petrol supplies, experts say

Government and motoring groups say there is no shortage of fuel supplies but stockpiling has left country service stations running dry, as Iran war sparks oil price fears

Euronews

Oil prices: Drivers rush to fill tanks in China before fuel price hike

Drivers queued at petrol stations in Nanjing ahead of a nationwide fuel price increase set to take effect at midnight as global oil prices surged above $100 per barrel.

Evening Standard

Stock markets drop after spike in crude oil prices amid Iran conflict

On Monday morning, the FTSE 100 joined the other major financial markets with a firm slump, dipping by as much as 1.7%.

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