Fuel Theft Surges as Petrol Prices Stay High
Almost £200,000 of fuel is being stolen from British petrol forecourts every day since the Iran war sent pump prices to their highest in years, according to industry figures reported on Monday. Drive-offs and other thefts have climbed as motorists face some of the steepest costs at the pump on record. Retailers say the losses are mounting.
The surge in fuel theft is a vivid sign of how the war’s effect on oil prices has rippled into everyday life, squeezing households and businesses alike. Forecourt operators, already working on thin margins, warn that the losses may push prices higher still or force them to demand pre-payment. Cheaper crude following the weekend’s de-escalation may in time ease the pressure, but relief at the pump lags the wholesale market by weeks. Police and retailers are stepping up efforts to deter offenders. Watch whether falling oil prices slow the thefts as costs come down.