UK Fuel Prices Dip, But Still High

0:00On April 17, UK fuel prices finally dipped a bit for the first time since the Middle East Conflict kicked off on February 28th. Yesterday, petrol averaged 158.1 pence per liter, down from 158.3 pence the day before. Diesel fell from 191.5 pence to 191.2 pence. After 46 straight days of climbs, drivers have shaled out an extra 1.3 billion pounds at the pumps. The government pulled in 200 million pounds more and fuel taxes over just 6 weeks. Even so, petrol sits 25 pence higher and diesel 49 pence pricier than pre-war levels. Nearly 3 in 10 drivers are now walking or cycling more to dodge those steep costs. RAC policy chief Simon Williams called it a small relief after the long climb, hoping wholesale drops bring several more pence off soon. Iran says the straight of Hormuz is fully open during the ceasefire, sending crude oil prices down to $91 per barrel right away.

1:02That could ease things further, though shipping might take time to restart. Household energy caps look set for a 12% jump to 1,837 pounds from July, milder than the earlier three. With 32 pound scare, with markets still shaky, the government's eyeing more targeted aid as fallout lingers.