UK petrol prices hit highest level in over three years as Iran war drives up oil costs

UK petrol prices have reached their peak in over three years, driven up by the escalating conflict in Iran which is destabilizing oil markets. The average price per litre surged to 159.7p last week, marking the highest level since November 2022. While drivers are seeing steep increases, the AA reports that prices could have been even higher without certain market interventions. This spike in fuel costs is significant as it impacts daily commuting and broader economic factors, including inflation and consumer spending.