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Summary
Keeping you informed
While the Middle East crisis continues to evolve this news story will keep you up to date with the latest developments and the impact on UK fuel prices and supply.
What’s happening
- The Middle East conflict continues to evolve causing instability across global energy markets.
- The Strait of Hormuz remains a key pressure point with the US blockading Iran’s ports. As long as restrictions and disruptions persist, oil prices are likely to stay volatile.
- Current developments do not change our ability to support you with your fuel needs - we continue to operate as normal.
How is instability affecting prices?
Geopolitical tension in the Middle East has pushed oil prices higher due to increased risk across global supply routes. The Strait of Hormuz - a key shipping lane for around 20% of the world’s oil - has been particularly affected, adding further pressure to international supply chains.
This combination of rising crude prices and disrupted transport links increases the risk of volatility across refined products, including:
- Kerosene (heating oil)
- Gas oil (red diesel)
- DERV (white diesel)
Other products, such as renewable diesel (HVO), AdBlue, and lubricants, are also feeling the impact due to higher raw material costs and shipping delays caused by displaced cargo vessels.
For additional context on heating oil price movements, you may find this Fuel Oil News article helpful: Why has the price of heating oil risen faster than crude?
Is the UK oil supply at risk?
While any geopolitical situation brings some uncertainty, our inhouse supply team is working proactively to mitigate risk and maintain continuity for our customers. Our national scale means we are able to:
- Source product from a broad and diverse supplier network
- Secure strong supply agreements, including contracted volumes
- Monitor and respond to customer demand daily
- Utilise our nationwide storage facilities to provide flexibility and resilience
These measures help strengthen supply continuity during periods of disruption. While no one can predict how the situation will evolve, we are continually evaluating developments to help ensure you have the fuel you need.
Should I order fuel sooner than usual?
There is no requirement to change your usual ordering patterns. Our supply position remains stable and we continue to manage demand closely.