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.
Reported by CNN · How we write briefs