Fuel Prices

Annual March rate adds to pressure on household finances and follows warnings of slowdown to UK economyUK inflation rose by 3.3% in March amid the surge in fuel prices for motorists triggered by the Iran war.Figures from the Office for National Statistics (ONS) show the consumer prices index increased last month from 3% in February, adding to pressure on household finances already battered by a cost of living crisis. The rise matched City economists’s forecast of an increase to 3.3%. Continue reading...

Norway leads the way in terms of switching as data shows 224,000 new EVs were registered in MarchBusiness live – latest updatesSales of electric cars soared 51% in continental Europe last month, amid a rise in petrol and diesel costs driven by the Iran war.Data shows that 224,000 new electric vehicles (EVs) were registered in March, and 500,000 across the first three months of the year – a 33.5% increase on a year earlier, according to analysis of national sales data in 15 countries by New Automotive and E-Mobility Europe, a trade body. Continue reading...

Budget airline says passengers are leaving it later to book flights owing to economic uncertaintyBusiness live – latest updatesThe budget airline easyJet has warned the impact of the Iran war on bookings and oil prices will hit its profits, having driven up fuel costs by £25m in the last month alone.It said it expected to report an increased pre-tax loss of £540-£560m for the six months to March, up from £394m in the first half of 2024-25. The carrier typically makes its money in the second half of the year which includes the peak summer period. Continue reading...

Some petrol stations may see short-term fuel outages as refinery output slows, but national supplies should not be affectedFull report: Geelong oil refinery fireGeelong oil refinery fire: what we know so farFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastVictorian motorists are being warned to brace for a spike in petrol prices of up to 20c a litre due to a huge blaze at Viva Energy’s oil refinery in Geelong, but oil and supply chain experts say the effects should be short-lived.Viva’s Corio facility is one of two domestic refineries that reduce Australia’s heavy reliance on direct imports of ready-to-use oil products from Asia. Continue reading...

How much fuel does Australia have left today, and when could we run out? Track how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country.Get our breaking news email, free app or daily news podcastThe federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan as Australia battles a fuel crisis.While we know there have been outages and price increases, it can be difficult to get a full picture of what is happening – this is partly due to the thousands of independent businesses and different governments involved. We have brought together the latest data on prices, outages and oil tanker deliveries. Continue reading...

Demand at online marketplaces could settle at a new, higher normal, with the crisis leaving consumers ‘scarred’Car buyers’ interest in electric cars has surged across Europe since the start of the war in Iran, as the rising cost of petrol highlights the cheaper power available from a plug.Online marketplaces in the UK, Germany, France and Spain reported huge increases in inquiries about electric vehicles since the start of the conflict in February. Continue reading...

Iran war drives demand for solar panels, heat pumps and EVs, with energy bills expected to rise 18% from JulyBritish households are turning to green home energy upgrades in record numbers to try to keep bills down as the Iran crisis sends global oil and gas prices soaring, data from leading energy suppliers suggests.Figures show demand for solar panels, electric vehicles and heat pumps in Great Britain has leapt since the war began on 28 February, as households brace for a sharp increase in monthly payments when the next energy price cap takes effect in the summer. Continue reading...