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Euronews
Euronews
Quirino Mealha

Reignited US-Iran tensions likely to drive petrol and diesel prices higher

United States Iran Petrol Donald Trump Edmund King Pakistan Strait of Hormuz

Hopes for cheaper fuel at the pump across Europe were dashed over the weekend after what looked like a breakthrough on the Strait of Hormuz turned out to be short-lived, sending crude prices higher and with them the cost of petrol and diesel.

Markets had welcomed the news on Friday that the critical shipping route might reopen, only for developments over the weekend to reverse sentiment and push prices higher.

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