Asda warns of fuel shortages as petrol prices continue to climb

(Sharecast News) - UK supermarket group Asda was warned that some of its petrol pumps across the country are facing temporary fuel shortages due to supply restrictions resulting from the conflict across the Persian Gulf. Chair Allan Leighton on Friday stressed that no petrol stations had completely ran out of fuel, and the issue was only affecting "the odd pump", but acknowledged that supply was currently "tight".

The comments followed the recent jump in the price of oil to a four-year high amid supply disruptions in the Strait of Hormuz and the direct impact on output by producers across the Gulf.

By 1645 GMT, Brent crude was 2.6% higher on the day at $104.50 a barrel, remaining near levels not seen since the Russia-Ukraine war began in early 2022.

According to the RAC, unleaded petrol across the UK now averages 150.11p a litre - topping 150p for the first time since May 2024, having risen 17p since before the conflict began, while diesel averages 177.68p. Both are "likely to rise" further, according to the firm's own forecasts.

"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," Leighton said.

"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. These are temporary and are addressed very quickly."