The ongoing conflict involving Iran is contributing to persistently high fuel prices in the UK, not just through global oil market disruptions, but also through a significant surge in fuel theft. Pump prices are not falling as fast as they should due to increased criminal activity at forecourts.
The ongoing conflict involving Iran is contributing to persistently high fuel prices in the UK, not just through global oil market disruptions, but also through a significant surge in fuel theft .
While pump prices for both petrol and diesel are showing tentative signs of easing after reaching four-year highs, the reduction is slower than anticipated due to forecourts absorbing the financial impact of increased criminal activity. Industry reports indicate a 13 percent rise in 'bilking' – the act of driving off without paying for fuel – in the 50 days following the escalation of conflict between the US and Israel and Iran.
Concerns are mounting that these thefts will become even more prevalent as long as fuel costs remain elevated, particularly with the vital Strait of Hormuz remaining closed, hindering oil supply routes. The financial burden on British motorists is substantial. The RAC Foundation estimates a 'war premium' of £1.62 billion has been added to fuel costs since February 28th, with diesel drivers bearing the brunt at £1.21 billion, a cost often passed on to consumers through increased product prices.
Debt recovery firm Forecourt Eye reveals a worrying trend: a growing number of drivers admitting they cannot afford to pay for fuel, alongside a rise in deliberate drive-offs. Recent incidents, such as the North Wales Police’s release of CCTV footage of a woman allegedly involved in petrol thefts in Gwynedd, highlight the escalating problem. As of Wednesday, the average petrol price stood at 157.3p per litre (24.5p higher than February 28th, but down 1p from its peak on April 15th).
Diesel remains significantly more expensive, averaging 189.9p per litre (47.5p higher than the end of February, and 1.5p down from its monthly peak). Despite the slight decrease, a considerable number of forecourts – 114 – are still charging £2 or more per litre for diesel, with another 4,354 selling it between 190p and 199.9p. RAC policy head Simon Williams expresses hope for further price reductions in the coming days, acknowledging the challenges faced by retailers due to both higher oil costs and fuel theft.
Forecourt Eye’s data paints a stark picture: approximately 179 fuel theft incidents occur daily, totaling around 6,900 litres stolen every 24 hours.
'Means of no payment' incidents have increased by 20 percent (from 44 to 53 daily) between February 28th and April 19th, while drive-offs are up 10 percent (from 114 to 125). The majority of these incidents involve first-time offenders, a number that has risen by 16 percent since the conflict began. Beyond simple drive-offs, there’s evidence of organized gangs using jerry cans and concealed containers to bulk bilk, selling the stolen fuel on the black market.
Furthermore, older methods of fuel theft, such as siphoning from unattended vehicles and drilling into fuel tanks, are also on the rise, with reports emerging from areas like Clacton-on-Sea and Grantham, where a haulage firm lost 25,000 litres of diesel. Forecourt Eye concludes that the initial response to soaring prices has evolved into a 'sustained and accelerating shift' in fuel theft and payment avoidance
Fuel Theft Petrol Prices Diesel Prices Iran Conflict Strait Of Hormuz RAC Foundation Forecourt Eye
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