Conflict involving Iran, the United States and Israel has pushed global oil prices sharply higher, raising the prospect of more expensive petrol. Brent crude rose nearly 10 per cent to almost 80 dollars per barrel after strikes and retaliatory attacks across the Middle East, including incidents targeting oil tankers in the Strait of Hormuz and a major Saudi refinery.

The Strait of Hormuz is a critical shipping route handling about a fifth of the world’s oil trade. Any disruption to this narrow waterway can quickly drive up global energy prices. Economists warn that if tensions persist, oil could climb to 90 or even 100 dollars per barrel, increasing costs for motorists and potentially feeding broader inflation.

In Britain, average petrol prices currently stand at 132.7 pence per litre. Analysts say it typically takes around two weeks for higher crude prices to filter through to forecourts. If oil remains near 80 dollars, pump prices could rise modestly, but a sustained surge toward 100 dollars could push prices significantly higher.

Despite the risks, shipping and energy experts note that trade through the region continues and the strait remains open. The industry has experience adapting to geopolitical shocks, meaning the long term impact will depend on whether the security situation escalates further.