Petrol and diesel prices rise again as concerns grow over ceasefire
Motoring groups have warned drivers not to expect a significant drop in costs soon.
Coverage by Political Leaning
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Notable Quotes
"Based on the fuel industry's rule of thumb of a 10 to 14-day lag between wholesale cost movements and those at the pump, drivers should expect prices on forecourts to level by next weekend and then fall – providing the ceasefire holds."
— Luke Bosdet , Executive
"Both fuels are now at their most expensive since late 2022."
— Simon Williams , Executive
"People shouldn’t take today’s progress and expect prices to fall."
— Chris Bowen , Politician
"We’re already seeing a substantial impact of a war which is on the other side of the world, but is having an impact on Australians here."
— Anthony Albanese , Politician
"Falling oil prices are welcome news for motorists and if this trend continues it should be reflected in lower pump prices."
— Gordon Balmer , Executive
"However, it is to be noted [that] this is a temporary ceasefire and the market remains volatile."
— Gordon Balmer , Executive
"Based on the fuel industry’s rule of thumb of a 10 to 14-day lag between wholesale cost movements and those at the pump, drivers should expect prices on forecourts to level by next weekend and then fall – providing the ceasefire holds."
— Luke Bosdet , Executive
"We will provide security for safe passage through the Strait of Hormuz."
— Saeed Khatibzadeh , Politician
Key People
Anthony Albanese is the Prime Minister of Australia.
Chris Bowen is an Australian politician serving as the Minister for Energy.
Former president of the United States known for his aggressive economic policies.
Gordon Balmer is the director of the Petrol Retailers Association.
JD Vance is a United States Senator from Ohio and a prominent figure in conservative politics.
Lawrence Wong is the Prime Minister of Singapore.
Luke Bosdet is the head of policy at the AA.
Saeed Khatibzadeh is Iran's Deputy Foreign Minister.
Head of policy at the RAC.
Victoria Scholar is the head of investment at Interactive Investor.
Locations
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All Coverage
Motoring groups have warned drivers not to expect a significant drop in costs soon.
Petrol prices in Australia have risen, with the government cautioning that the recent U.S.-Iran ceasefire will not lead to immediate reductions in fuel costs.
The UK's average diesel price has surpassed 190p per litre, but experts hope the U.S.-Iran ceasefire will stabilize prices in the coming days.
Despite the U.S.-Iran ceasefire, high fuel prices may continue for months due to ongoing supply disruptions and geopolitical tensions.
Experts discuss the potential impact of the U.S.-Iran ceasefire on U.S. gas prices, suggesting that any relief may be gradual and uncertain.
Oil prices have fallen sharply following the announcement of a two-week ceasefire between the U.S. and Iran, though supply issues may persist.
Petrol prices in Australia have increased, with the government cautioning that the recent U.S.-Iran ceasefire may not lead to immediate fuel price reductions.
Oil prices have risen above $97 a barrel amid skepticism over the fragile U.S.-Iran ceasefire, leading to declines in Asian stock markets.
UK motorists have been cautioned that petrol prices remain volatile due to a 'volatile' market, despite a ceasefire in the Middle East.
Oil prices climbed back toward $100 per barrel amid skepticism over the US-Iran ceasefire, leading to stock market fluctuations.
Oil prices have risen due to concerns over the US-Iran ceasefire, with petrol and diesel prices increasing as motorists await potential relief at the pump.
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