Drivers Urged to Fill Up Immediately Amid Looming Oil Crisis
Petrol and diesel drivers across the UK are being issued with urgent warnings to fill up their vehicles as soon as possible, with experts predicting fuel station queues and significant price increases due to an escalating oil crisis. The situation stems from heightened tensions in the Middle East, particularly between the United States and Iran, which is causing major disruptions to global energy markets.
Expert Recommendations for Motorists
Howard Cox, the founder of FairFuelUK, has explicitly advised drivers to refuel immediately. In an interview with GB News, Cox stated that the world is approaching a serious oil crisis. He recommended that motorists prioritize supermarket fuel stations, such as Costco, to secure the best possible prices before inevitable hikes occur.
"Drivers should indeed fill up as soon as possible," Cox emphasized. "I'd recommend supermarkets, particularly Costco, for the best prices. BP, Shell and Esso will hike pump prices first. It is inevitable that there will be queues at filling stations as a result."
Projected Fuel Price Increases
Simon Williams, head of policy at the RAC, provided detailed projections on how rising oil prices could impact consumers at the pump. He explained that if oil stabilizes at $80 per barrel, drivers could expect to pay an average of 136p for a litre of petrol. Should prices climb to $90 per barrel, the cost could exceed 140p per litre, and at $100 per barrel, it might approach 150p per litre.
"At $90, we'd be looking at over 140p a litre and $100 would take us nearer to 150p, but it’s all too soon to know," Williams cautioned, highlighting the uncertainty of the current market conditions.
Market Reactions and Worst-Case Scenarios
The conflict has already triggered a substantial war premium on global energy markets, driving Brent crude oil toward $80 per barrel, with intraday spikes reaching as high as $82. Tony Redondo, Founder of Cosmos Currency Exchange based in Newquay, attributed this surge to major shipping companies like Maersk rerouting vessels away from critical transit points such as the Strait of Hormuz and the Suez Canal.
Redondo warned that if these key routes remain blocked, Brent crude could breach $100 per barrel, pushing UK petrol prices from their recent range of 138p–142p per litre toward 155p, with diesel potentially exceeding 162p per litre. In a worst-case scenario involving sustained regional warfare, prices could mirror the 2022 crisis, surpassing $120 per barrel.
Samuel Mather-Holgate, managing director and IFA at Swindon-based Mather and Murray Financial, offered an even more alarming prediction, suggesting that fuel could reach £2 per litre if the conflict is prolonged.
Recent Price Movements and Background
Fuel prices experienced a sharp jump on Monday as markets reacted to the weekend's tit-for-tat attacks between the US and Iran. By lunchtime in London, a barrel of Brent crude oil was trading at approximately $79, marking an increase of about $6 or 8.5% on the day. This rise follows a significant upward trend since January, when prices were just above $60 per barrel, as tensions between the two nations intensified.
The combination of geopolitical instability and market volatility underscores the urgency of the warnings issued to drivers. With experts forecasting further increases and potential shortages, motorists are encouraged to take immediate action to mitigate the impact on their wallets and ensure they have sufficient fuel for their needs.
