// BBC BUSINESS NEWS — FINANZA
'Nightmare' for taxi drivers as fuel prices soar
The cost of filling up a vehicle has soared as the conflict in the Middle East continued to disrupt global oil supplies
Businesses across the West of England say they are struggling to make a profit as petrol prices soar to nearly £2 per litre.
Disruptions around critical shipping lanes like the Strait of Hormuz have tightened global oil supplies amid the ongoing conflict in the Middle East.
Retailers facing higher wholesale prices for fuel deliveries are given the choice of passing this increase onto the customer, or forfeiting their profitable margins.
Pieter-Jon Allis, owner of Stroud Taxi in Gloucestershire, said it was a "complete nightmare" as he faced "continual pressure to lowball" his prices to stay afloat.
The increase comes as conflict in the Middle East has pushed the global oil price to above $108 (£80) per barrel, up from $70 (£52) in June 2026 - a roughly 50% rise.
Petrol prices across the region vary, but rural areas are more expensive due to higher transport costs, lower sales volumes, and a lack of local competition.
Filling up your tank in Bristol would currently set you back an average of £1.70 per litre, while some petrol stations in Hullavington in Wiltshire are charging £2.40.
Elsewhere, a petrol station in Upton Noble, Somerset, has increased their prices to £1.86, and another near Whaddon will cost you £1.96 per litre.
"Obviously it's a concern because our chief business cost on a day-to-day basis is fuel. I think we're headed for pretty tough times ahead," Allis said.