💨 Abstract

The Strait of Hormuz has reopened temporarily, easing fears of fuel shortages and skyrocketing prices caused by the Iran war. A two-week ceasefire between the U.S. and Iran allows safe passage through the strait, but market stability remains uncertain. Fuel prices in the UK have surged, with petrol and diesel at their highest since late 2022. Experts warn that relief at the pumps may take time due to delays in market adjustments.

Courtesy: Noora Mykkanen