When will petrol and diesel prices fall? Latest RAC update ahead of Iran peace deal hope

The anticipation of a peace deal between the US and Iran has already started to impact oil prices, which are dropping in response to hopes that the Strait of Hormuz will reopen, potentially easing global oil supply disruptions. This development could lead to a reduction in petrol and diesel prices, which have been a significant burden for consumers and businesses alike. The broader context here is that stable oil prices are crucial for global economic health, making this a pivotal moment for fuel costs and international relations.