Long Queues At UK Petrol Stations Amid Fears Of Fuel Price Hike, Public Told To Avoid Panic Buying

Petrol stations in the UK are experiencing long queues as fears of a petrol shortage grow following the escalation of conflict in the Middle East. Queues of up to 90 cars were reported at petrol stations across the UK today as people engaged in panic buying. Drivers in locations such as London, Manchester, and Liverpool reported waiting for over an hour to refuel, reported the Metro. 

Notably, the war has led to the suspension of sailings through the Strait of Hormuz -- a critical waterway carrying around 20% of the world's oil and gas supplies. Iran's retaliation attacks, triggered by the killing of Supreme Leader Ayatollah Ali Khamenei, have pushed oil prices up by 13%, with Brent crude reaching its highest level since July 2023. Analysts warn that oil prices could exceed $100 per barrel if the disruptions continue, with Goldman Sachs estimating an $18 per barrel risk premium. 

Ali Vaez, director of the Iran Project, said, "Closure of the Strait of Hormuz would disrupt roughly a fifth of globally traded oil overnight—and prices wouldn't just spike, they would gap violently upward on fear alone. The shock would reverberate far beyond energy markets, tightening financial conditions, fueling inflation, and pushing fragile economies closer to recession in a matter of weeks."

"Avoid Panic Buying"

Despite the tensions in the Middle East, the UK's petrol supply isn't currently running out, the report noted. Motoring groups like the AA and the RAC are urging drivers to avoid panic buying, noting that current stocks remain stable and that sudden surges in demand are what primarily cause local shortages. 

But a growing number of motorists are choosing to stock up, going against official advice to remain calm. In various parts of the country, including Greater Manchester and Liverpool, scenes of panic buying have been unfolding, with dozens of vehicles queuing for petrol at stations like the one at the Trafford Centre. In Kirkdale, Liverpool, the queues were so long that they were stretched beyond the petrol stations and into nearby roads. 

RAC head of policy Simon Williams said, "While the conflict in the Middle East undoubtedly has the potential to push up pump prices in the UK, it's not a certainty. The oil price would have to rise significantly and stay that way for some time to have a dramatic effect.”

Williams further said if oil hits $100 per barrel, petrol prices could reach around 150p per litre, but he's cautious to predict, adding, "it's all too soon to know."

The Prime Minister's official spokesman said, "The Government is monitoring the situation closely. The UK benefits from strong and diverse security of energy supplies. The Energy Secretary spoke to the executive director of the International Energy Agency over the weekend. There are currently no reported impacts to UK fuel supply. DESNZ (the Department for Energy Security and Net Zero) will continue to monitor UK fuel stocks and sales."