06/03/2026
STOP PRESS - STOP PRESS - STOP PRESS - STOP PRESS
Introducing Couriersdepot.com’s Weekly Fuel Report in association with Fuelmate, to all our Facebook Groups - we trust that you find this a useful resource - now more than ever.
Indeed, it's quite a week to bring this to you...
NOTE: Given the extraordinary geopolitical situation we find the world in, this is a far more substantial report than others. Reading is recommended over the bullet points to get the full picture.
Headlines - and there are a few...hence the increase to five - we want you to get a fuller picture if you've not got the time to read the whole report.
🔴 Oil prices jump 18% this week—the steepest surge since 2022—as escalating conflict in the Persian Gulf disrupts key energy flows and heightens global market tension.
🔴 Iranian retaliation and regional strikes have disrupted both oil and gas production, with tanker routes through the strategic Strait of Hormuz heavily affected by security threats.
🔴 Global trade disruption intensifies, as shipping traffic through the Gulf slows dramatically; many vessels are delaying or diverting to avoid the conflict zone.
🔴 Producers react to tightening supply, with Saudi Aramco announcing its largest price hike since 2022 for crude sold to Asian markets starting in April.
🔴 UK wholesale fuel prices climb sharply, diesel rising 15p and petrol 6p per litre; with pump prices already at 16‑month highs, further increases look likely if Gulf tensions persist.
Welcome to Couriersdepot.coms Weekly Fuel Report, in association with Fuelmate.
Justin Cox ACILT
Founder of Couriersdepot.com - For All Things Courier, and Beyond...
I HELP OPERATORS SAVE > 25% ON THEIR FLEET INSURANCE PREMIUMS & PROVIDE CURATED PRODUCTS & SERVICES FOR THE SECTOR.
Week Ending 6th March 2026
Oil Prices Surge as Middle East Conflict Disrupts Global Supply
Oil markets have recorded their sharpest weekly rise since 2022 as escalating conflict in the Persian Gulf begins to disrupt one of the world’s most critical energy supply routes.
The price of West Texas Intermediate crude jumped around 18% in just one week, as traders reacted to the rapidly deteriorating geopolitical situation in the Middle East.
The surge follows retaliatory attacks launched by Iran against Gulf nations after joint strikes by the United States and Israel on Iranian targets. Since 28 February, the conflict has intensified, causing significant disruption to both oil and natural gas production and deliveries across the region.
A major concern for global energy markets is the situation in the Strait of Hormuz. This narrow shipping channel between Iran and the United Arab Emirates is one of the most important oil transit routes in the world, with more than 80 oil tankers typically passing through each day.
However, shipping traffic has been dramatically reduced amid ongoing Iranian attacks and heightened security risks, with vessels either delaying transit or avoiding the area altogether. As a result, normal trade flows have been disrupted and global oil prices have reacted quickly.
Producers have also begun responding to the tightening supply outlook. Saudi Aramco has already announced its largest price increase since 2022 for its main crude grades sold to Asian customers for April delivery.
These developments are now starting to filter through to fuel markets.
Here in the United Kingdom, wholesale fuel costs rose sharply at the start of the week as financial markets reacted to the military escalation. According to the Petrol Retailers Association, wholesale diesel prices increased by around 15 pence per litre, while petrol rose by approximately 6 pence per litre.
While pump prices typically take around two weeks to fully reflect wholesale market changes, some retailers may have to pass on increases more quickly depending on their purchasing contracts.
As a result, average UK diesel prices have already reached a 16-month high, and further increases are likely if disruption in the Gulf continues.
Just a week ago, market attention was focused on U.S. inventory data and ongoing nuclear negotiations between Washington and Tehran. Now, geopolitics has firmly taken centre stage.
For the time being, the direction of oil prices will largely depend on how events in the Middle East unfold. Any further disruption to tanker traffic or regional production could push crude prices higher still, while diplomatic progress could quickly ease the current risk premium built into the market.
For fuel buyers and fleet operators, this means volatility is likely to remain a key theme in the weeks ahead.
Fuel card prices are also expected to rise sharply next week. Cards linked to commercial wholesale pricing models will likely increase by at least 15p per litre, while cards based on retail pricing structures may see a smaller increase as they gradually catch up with current market conditions.
Footnote
Couriers Depot is partnered with Fuelmate, the largest family-owned fuel company in the UK, offering a breadth of services and a comprehensive range of fuel cards to suit any fleet, whether multiple or single, fuel- or drivetrain-based. They employ a consultancy-based approach to identify cost savings across your fleet.
Should you believe that now is the right time to learn more about Fuelmate and what they can do for your business, click on the link below, and one of their advisors will be in touch.
https://www.couriersdepot.com/fuel-cards-for-delivery-drivers-couriers
Couriersdepot.com: For All Things Courier - And Beyond
Couriersdepot.com is partnered with 'Through The Roof', a registered charity that provides wheelchairs to those with disability in a number of countries in Africa and parts of India, with five per cent of all income donated to their cause.
It's reported haulage costs will jump by 10% in 2024. Couriers Depot can enable you to make significant cost savings. on your fleet insurance
