All news on the topic: Simon Williams

Motorists in the UK are warned petrol prices are likely to hit 160p per litre from Friday, a new record since the start of the Iran war.

UK borrowing costs soared yesterday amid a global bond market rout sparked by a surge in the oil price back above $100.

Iran could soon be rolling in cash if it goes ahead with charging vessels for passing through the Strait of Hormuz – at $1,000,000 per ship.

Oil prices have risen further as the Middle East war rages - with Iranian officials saying the country would "set fire to anyone who tries to pass through" the Strait of Hormuz, a key crude oil shipping route.

The RAC said pump prices should be still lower as the average supermarket margin on fuel was 13p per litre last month which is more than double what it was in 2021