British Drivers Face £1 Billion Fuel Bill

0:00On April 9th, British drivers are staring down a 1 billion pound hit at the pumps today, all thanks to the Iran conflict that kicked off on February 28th. Analysis shows the extra cash shelled out since prices skyrocketed has already topped 920 million pounds, pushing past that billion. Mark with Easter road trips in full swing. Yesterday saw diesel averages climb to 190.62 pence per liter, just shy of the 2022 record, while petrol hit 157.71 pence. That's jumps of 34% for diesel and 19% for petrol since the fighting started as shipping through the straight of hormones. Drop 95%. Families are feeling it hard, with a typical 55 liter petrol tank now costing nearly 14 pounds more to fill and almost 27 pounds extra for diesel. On top of that, the government's pocketed almost 170 million pounds in surprise vat from these spikes.

1:00But here's some light global oil prices, plunge 13% to $94.80 a barrel after the U.S. and Iran inked to temporary. Two week ceasefire reopening the straight. Experts predict pump prices could drop 8 pence per liter soon, saving about 4 pounds 50 on a fill-up if it sticks. Still, critics are piling on Chancellor Rachel Reeves to scrap her planned 5 pence per liter fuel duty hike set for September 1st, calling it a bad move amid the pain. Oil changes take weeks to hit four quarts, so relief my leg, but if peace holds, those lower bills could roll in before long.