- Diesel prices in the UK have reached their highest level since December 2022, hitting 181.2p per litre, with petrol averaging 152p per litre.
- The increase in fuel costs is largely attributed to soaring oil prices, influenced by Iran's actions affecting tankers in the Strait of Hormuz.
- The prime minister Keir Starmer and chancellor Rachel Reeves are under mounting pressure to abandon a planned fuel duty increase in September and implement measures to protect consumers from rapidly rising prices.
- Campaigners and opposition figures highlight that European countries like Greece, Hungary, and Germany have introduced profit caps, price limits, or are considering windfall taxes to mitigate fuel costs.
- Sir Starmer met with business and military leaders to discuss the Middle East conflict and reopening the Strait of Hormuz, as the IMF warned the UK is particularly vulnerable to the economic impact of the war due to its reliance on gas-fired power.
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