World · 14 March 2026

UK Petrol Prices Set to Rise as Oil Hits $103 a Barrel

British drivers and businesses face higher fuel costs as global oil prices continue climbing. Brent crude closed at $103.14 on Friday - up 41.5% since the war began on 28 February - driven by Iran's effective blockade of the Strait of Hormuz, through which 20% of the world's oil passes. Diesel prices in the US have already jumped sharply, pointing to wider shipping cost increases ahead.

By BriefTea Editorial · 14 March 2026 at 16:37

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