Motorists on the Isle of Wight are facing rising fuel prices as disruption to a key global oil shipping route drives wholesale costs higher.
Pump costs are rising due to higher wholesale oil prices, driven by geopolitical tensions in the Middle East and shipping disruptions through the Strait of Hormuz, a major global oil route.
The cheapest Unleaded (E10) fuel on the Island is available at Asda (139.7p) with Morrisons in Lake and Newport (140.9p) and Tesco (141.9p) following closely behind.
In terms of Diesel (B7), Asda is once again the cheapest (157.7p) with Sainsbury’s and Tesco (157.9p) only marginally more expensive.
At the other end of the scale, the Gulf garage on Wootton’s Lushington Hill is the most expensive for both Unleaded (157.9p) and Diesel (187.9p)
To keep track of prices at fuel stations across the Island, visit findcheapfuel.com
Speaking on the increase, RAC head of policy said:
“If oil were to settle at around the $90 a barrel mark and the pound were to maintain its current position against the US dollar, drivers in the UK could expect average petrol prices to reach around 140p a litre, and diesel around 167p a litre.
Article continues below this advertisement “We urge drivers to shop around and make use of free apps such as myRAC to ensure they never pay any more for fuel than they need to.”
The prices listed in this article were correct at the time of publication.
As soon as the war started the price went up, and has continued to rise over the week. Twice over the past few days we have been told that the barrel price has reduced by quite a bit. Has the pump price gone down? No, it’s gone up again!
Blatant profiteering, surely against the law?
How can the forecourts increase their prices overnight without receiving a fresh delivery? Surely the fuel in their holding tank already has a margin set against it, raising the pump price on the same fuel is just greed hiding behind the smokescreen of the issues in the middle east.
You are correct the barrel price has gone down.
In U.S fuel costs about £2.65 a gallon, soon UK
will be £2.00 a litre
Now is the best time to drive and own an EV.
and I bet the price rise is greed as they more than likely already paid for the stock in the tanks at a much lower price
But the real crisis isn’t what it costs to commute—it’s what it costs to stay warm. 1,400 off-grid households on the Isle of Wight rely on heating oil (Kerosene). While the media talks about “oil price fluctuations,” those households are facing a 500L minimum order quantity that has effectively doubled in price in 14 days.
Are people really that broke these days they whinge about a few extra pennies?
It’s more than an extra few pennies, do the maths
Numpty
You really are a twat.
Takes one to know one.
One difference. I am not stupid enough to
Vote Reform.
Bless!
Found a brokie