How the war in Iran has affected petrol prices in Wales

There has been a sharp increase in petrol prices in Wales since the beginning of the war in Iran with motorists paying more than 11p extra. The amount the price has shot up depends on what area of the UK you are living in, bu the average price per litre of unleaded petrol is now often past 140p.

The areas of Wales which have seen the greatest spikes in prices are Ceredigion, where motorists are paying more than an 11p extra per litre. The second largest price increase was seen in Carmarthenshire, where costs have gone up by more than 10p a litre.

Here are the full price increases in each Welsh local authority area:

• Ceredigion - 137.6p. Up 11.4p per litre.
• Carmarthenshire - 139.7p. Up 10.4p per litre.
• Flintshire - 140.9p. Up 9.7p per litre.
• Swansea - 137.5p. Up 9.5p per litre.
• Pembrokeshire - 136.5p. Up 9.4p per litre.
• Anglesey - 136.8p. Up 9.3p per litre.
• Monmouthshire - 139.5p. Up 9.2p per litre.
• Bridgend - 136.8p. Up 9.2p per litre.
• Gwynedd - 136.1p. Up 9.2p per time.
• Conwy - 141.6p. Up 9p per litre.
• Blaenau Gwent - 136.9p. Up 9p per litre.
• Cardiff - 140.5p. Up 8.8p per litre.
• Wrexham - 140.2p. Up 8.8p per litre.
• Caerphilly - 138.5p. Up 8.8p per litre.
• Newport - 138.7p. Up 8.7p per litre.
• Neath Port Talbot - 136.8p. Up 8.7p per litre.
• Torfaen - 136.4p. Up 8.7p per litre.
• Powys - 140.3p. Up 8.5p per litre.
• Denbighshire - 142.2p. Up 8.2p per litre.
• Rhondda Cynon Taf - 137.5p. Up 8.2p per litre.
• Vale of Glamorgan - 139.4p. Up 7.9p per litre.
• Merthtyr Tydfil - 140.4p. Up 6.1p per litre.

It is estimated that the Iran war is set to cost UK motorists £15m a day in extra fuel costs as prices continue to spike upwards at petrol forecourts around the country. 

The impact of the price hikes means that the average cost of all the fuel bought each day in the UK is already costing motorists £12.9m more than it did before the war began on February 28, and that figure is set to pass £15m on current trends.

The Competition and Markets Authority (CMA) said it has put fuel retailers “on notice” that it is stepping up monitoring of petrol and diesel prices in light of the Middle East conflict.

The CMA’s executive director for markets, Juliette Enser, said: “Whilst price increases might be inevitable because of rising wholesale costs, it is important that those increases reflect genuine cost pressures.

“We will be closely scrutinising and reporting on what’s happening with fuel prices and call out any concerning behaviour.”

Among the major retailers, Asda Express is charging the highest average price for unleaded petrol. The firm, which operates Asda service stations rather than supermarket forecourts, has an average price of 142.9p per litre - which is 12.1 p more than before the Iran war.

Esso, BP, Shell, Murco and Texaco are all charging motorists an average of over 140p a litre at their petrol stations.

Of the big four supermarkets, Tesco is charging the highest price at 138.2p a litre, slightly more than Morrisons (137.7p), Sainsbury’s (137.6p) and Asda (137.1p).

A petrol industry trade group pulled out of a meeting with Chancellor Rachel Reeves after accusing minister of using “inflammatory language” that has led to abuse against forecourt workers.

The Petrol Retailers Association (PRA) said executive director Gordon Balmer had been invited to take part in the Downing Street meeting with Ms Reeves and Energy Secretary Ed Miliband on fuel prices.

But it said Mr Balmer had withdrawn over concerns that recent language being used by ministers was inciting abuse against fuel retail staff by members of the public.

The PRA said “following several days in which ministers have suggested that forecourts may be ‘price gouging’ and ‘ripping off’ the motorist”, it had looked to get assurances from Ms Reeves’s office that the meeting would be held in private, but that this was not provided.

The PRA said it made the decision not to attend the meeting to “protect retail staff”.

On Thursday, the Competition and Markets Authority warned it was putting fuel retailers “on notice” of plans to step up monitoring of petrol and diesel prices in light of the Middle East uncertainty.

President Donald Trump has said he is not ready to make a deal with Iran to bring about the end of the war as "the terms aren't good enough yet". The President told NBC American forces had "totally demolished" military targets in Iran.

Israel launched "wide-scale strikes" on Iran overnight, with residents in southern Lebanon and Beirut ordered to evacuate. the country targeted heavily armed checkpoints in Iran, according to he Islamic Revolutionary Guards Corps, with an attack on a factory in Isfahan resulting in the deaths of 15 workers.