- Asda's boss has warned that British motorists could face "temporary shortages" at some petrol pumps, attributing the issue to tight supply exacerbated by the ongoing conflict in the Middle East.
- Petrol and diesel prices have seen a significant uplift since late February, with RAC data showing unleaded petrol has surged over 14p a litre to an average of 147.19p.
- Oil prices rose to $110 a barrel after Iran announced the closure of the Strait of Hormuz, a crucial waterway through which 20 per cent of the world’s gas and oil is shipped.
- Allan Leighton, Asda's executive chairman, noted "bumper demand" from drivers reacting to price volatility but clarified that supply problems are limited to "the odd pump" and are temporary.
- Mr Leighton refuted claims of "profiteering" by fuel retailers, stating that Asda's profit margin would be down and that the government receives a significant amount from the price increases.
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