PA MediaSome petrol pumps are witnessing “temporary shortages” amid tight supply linked to the conflict in the Middle East, the boss of Asda has warned, as the price of petrol jumped above 150p per litre for the first time in almost two years.
The UK’s second-largest fuel retailer stressed that elevated demand from customers has led to a small number of local “spikes”, but issues are not nationwide.
Fuel Industry UK, which represents the fuel sector, said the supply of petrol and diesel is “stable”.
Allan Leighton, executive chairman of Asda, also rejected accusations that petrol sellers might be “profiteering” from higher pricing in recent weeks.
Petrol and diesel prices have lifted significantly since the end of February after the war between Iran and US-Israeli forces led to a disruption in the production and supply of oil from the Middle East.
The average price of unleaded petrol has risen by more than 17p a litre since the end of February to 150.11p, according to fresh RAC data.
RAC head of policy Simon Williams said: “Petrol has now broken through the unwelcome milestone of 150p a litre, something drivers haven’t seen since mid-May two years ago, while the average price of diesel is now approaching 180p at 177.68p.
“With the long-awaited four-day Easter weekend almost within touching distance, the cost of getting away by car is going to be noticeably higher this year.”
Mr Leighton said the retailer has seen bumper demand from drivers in response to the volatility in prices.
He stressed the issue has only affected “the odd pump” at a small number of its petrol forecourts, highlighting no forecourts have been fully short of fuel.
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. These are temporary and are addressed very quickly.”
Last year, around 90% of crude oil refined in the UK – which is used to produce petrol – was imported, with around 1% of this imported from the Middle East, with most coming from the US and Norway.
Around 7% of diesel is imported from the Middle East.
UK refinery production of petrol, from crude oil, exceeded demand in 2025, according to official data.
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 that 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.”
A Fuel Industry UK spokesman said: “Companies are monitoring the fuel supply situation closely and reporting regularly to the energy department on the status now and for the weeks ahead.
“Supply remains stable in the UK, and our members are working hard to ensure that remains the case.”
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