What's happening to UK petrol and diesel prices now the US and Iran have a deal?

Article excerpt

Oil markets are recalibrating following renewed diplomatic overtures between the US and Iran, with potential implications for British petrol and diesel prices. When Russia invaded Ukraine in late February 2022, fuel costs spiked as the conflict disrupted Middle Eastern energy production and transportation. Now, any thaw in US-Iran tensions could increase Iranian oil supply to global markets, potentially easing the pressure on pump prices that have strained UK motorists and businesses. The article examines how geopolitical shifts ripple through energy markets and affect what drivers pay at the forecourt.