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UK petrol pumps running dry as Iran war causes 'temporary shortages' and prices soar

ASDA boss Allan Leighton says some forecourts are suffering "temporary shortages" as the Middle East conflict hits supplies, while prices are up 14p a litre since February

[The boss of Asda has warned that some petrol pumps are witnessing shortages]

The boss of Asda has warned that some petrol pumps are witnessing shortages(Image: Getty Images)

Some petrol pumps are witnessing "temporary shortages" due to tight supply linked to the conflict in the Middle East, the boss of Asda has warned. The UK's second largest fuel retailer also rejected accusations that petrol sellers might be "profiteering" from higher pricing in recent weeks.

Petrol and diesel prices have lifted significantly since the war between Iran and US-Israeli forces led to disruption in the production and supply of oil from the Middle East.

The average price of unleaded petrol has risen by more than 14p a litre since the end of February to 147.19p, according to RAC data from earlier this week.

[Allan Leighton is the executive chairman of Asda]

Allan Leighton is the executive chairman of Asda(Image: WireImage)

Allan Leighton, executive chairman of Asda, said the retailer has seen bumper demand from drivers in response to the volatility in prices. The boss stressed that the issue has only affected "the odd pump" at a small number of its petrol forecourts.

He said: "Our fuel volumes are up quite significantly and clearly demand has been outstripping supply. Supply is tight and we are all trying hard on that.

"The issue is a temporary one, and some could see issues when we are waiting for delivery, and we can expect to see that continue. The spikiness at the moment makes this tricky for us, as spikes can lead to temporary shortages.

[Prime Minister Sir Keir Starmer said the Government would step in if retailers try "to rip off customers" through price gouging]

Prime Minister Sir Keir Starmer said the Government would step in if retailers try "to rip off customers" through price gouging(Image: Getty Images)

"These are temporary and are addressed very quickly." The boss also rejected claims that fuel retailers have boosted their profits through recent price increases.

Earlier this month, Prime Minister Sir Keir Starmer said the Government would step in if retailers try "to rip off customers" through price gouging. In response, Mr Leighton said "no, we are not" when asked if the business was profiteering.

He said: "Our (profit) margin will be down as a result. It is very clear this is not the case.

"People ask where the money is going and the Government are getting a lot of money off the back of this."

Irans restriction of access to the Strait of Hormuz, a crucial shipping lane for around 20% of the worlds oil and gas, has triggered a global supply shock, while missile and drone strikes on energy infrastructure in Saudi Arabia and Qatar have further hampered production.

Wholesale oil prices have soared above $100 a barrel.

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