What surging oil price means for UK petrol prices, supermarket costs and energy bills
Brent crude oil prices surged to $125, the highest level since 2022, due to renewed concerns over the Strait of Hormuz and potential military escalation involving Iran, which could impact global oil supply. This spike is expected to increase UK petrol prices, supermarket costs, and energy bills over the coming weeks, with fuel prices already rising by 10p to 15p per litre. Although the June futures price has since pulled back to $118, the broader economic impact depends on how long elevated oil prices persist.
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NewsBusinessWhat surging oil price means for UK petrol prices, supermarket costs and energy billsBrent crude hit $125 overnight - and higher prices for longer will feed through to everyday products and servicesKarl Matchett Business and Money Editor & Simon EnglishThursday 30 April 2026 12:48 BSTBookmarkCommentsGo to commentsBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":true,"showBookmark":true,"articleId":"b2967818","articleMeta":{"url":"https://www.independent.co.uk/news/business/oil-prices-uk-petrol-supermarkets-energy-bills-brent-crude-iran-b2967818.html","title":"What surging oil price means for your petrol, food and energy…
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