Motoring group RAC Foundation study says the Iran-related conflict drives higher petrol and diesel prices, forcing motorists to spend an additional £7.5 billion at the pumps since 28 February. The report also estimates the UK Treasury gains about £1.3 billion in Value Added Tax (VAT) as a result of those increased fuel bills.
The outlets report that petrol and diesel prices are rising again to levels described as around a four-year high. The coverage attributes the movement in prices to the ongoing conflict’s effects on fuel markets, which feed through to pump prices. While the emphasis differs, both accounts rely on the same RAC Foundation study for the headline figures on extra spending and the VAT windfall.
Overall, the reporting frames the issue as a cost burden on drivers, alongside a government revenue impact, with the study’s timing tied to the period beginning 28 February amid the Iran conflict.
