Some fuel stations in the UK experienced “temporary supply constraints” on Friday as fuel prices continue to rise amid global supply disruptions and increased demand.
Following the outbreak of the US-Israel-Iran war, traffic through the Strait of Hormuz, critical for global energy trade, has nearly come to a halt, continuing to place pressure on oil and gas supply and prices.
Fuel prices in the UK have risen since the war, with petrol exceeding £1.5 per liter ($7.25 per gallon) and increasing by around 15% compared to pre-war levels.
Diesel prices have reached £1.77 per liter ($8.54 per gallon).
Allan Leighton, CEO of Asda, one of the UK’s largest retail chains, said a “small proportion” of the company’s fuel stations are facing temporary constraints.
“We are seeing a very strong increase in demand due to price volatility,” said Leighton, adding that fuel sales volumes have risen significantly.
“Clearly, demand has outpaced supply. Supply is tight, and we are all working hard on this. The issue is temporary. There may be some disruptions during delivery periods, and we expect this to continue for some time,” he said.
Hostilities in the region have escalated since the US and Israel launched a joint offensive against Iran on Feb. 28.
Tehran has retaliated with waves of drone and missile strikes targeting Israel, Jordan, Iraq and Gulf countries hosting US military assets, inflicting casualties and infrastructure damage, while disrupting global markets and aviation.
Reporting by Nuran Erkul Kaya in London
Writing by Merve Berker
Anadolu Agency
energy@aa.com.tr
