Iran war has already cost UK drivers £300 million at the pumps
Calculations conducted by the RAC Foundation take into account price rises alongside average nationwide fuel consumption
Drivers in the UK are already paying the price for the war in Iran, says the RAC Foundation. Its latest estimates suggest that rising fuel prices have cost motorists as much as £307 million.
This figure has been calculated by analysing daily fluctuations in the fuel price and using fuel consumption data from 2025 as a reference point. Since the start of the conflict in the Middle East, the price of petrol has surged from 132.9 pence per litre to 146.4 pence as of Monday 23 March. In total, drivers have paid £4.574 billion at forecourts since 28 February, as opposed to £4.267 billion if prices had remained unchanged.
Such is the consequence of the huge spike in the price of Brent crude oil, which is critical for fuel production. Once again, before strikes began, the price of Brent crude sat at around $72 per barrel, which quickly rose to $120 at its peak and now sits at around $100. Of course, given the unpredictable nature of the American, Israeli and Iranian administrations, this has the potential to either get better or worse in the coming days.
The RAC Foundation’s director, Steve Gooding, explained how all of this “puts a financial price on war, not just for UK drivers but also the nation’s businesses”.
He warned, “Even if the conflict was resolved tomorrow, the pain at the pumps will be felt for weeks to come, or longer”, attributing this delay “to the time lag between changes in the barrel price of oil and what fuel costs at the pumps, and the time it will take to repair the war damage to oil production, refining and distribution”.
In the meantime, Chancellor Rachel Reeves has commissioned the Competition and Markets Authority to launch an investigation into profiteering by fuel retailers throughout the Iran crisis. The Energy Secretary, Ed Miliband MP, told the BBC that the Government “will not tolerate unfair practices or price gouging”.
In response, the executive director of the Petrol Retailers Association, Gordon Balmer, said: “Recently, I have heard of incidents from some of our members of retail staff being abused by members of the public, who may have been provoked by the incorrect and inflammatory language emanating from some commentators.”
Stay tuned to Auto Express for updates on this rapidly evolving story.
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