Motorists across the United Kingdom are being strongly encouraged to fill up their vehicles before 5pm on Thursday to take advantage of current fuel prices, as a significant drop in global oil costs is expected to gradually translate to forecourt savings. This urgent advice comes in the wake of a major geopolitical development: the announcement of a conditional two-week ceasefire between the United States and Iran, which has led to the immediate reopening of the strategically vital Strait of Hormuz.
Ceasefire Deal Triggers Sharp Decline in Oil Markets
Following the declaration by former US President Donald Trump that a ceasefire would be implemented if the strait was "immediately" and "completely" reopened, global oil markets reacted swiftly. The price of benchmark Brent crude oil fell dramatically by approximately 13 percent, settling at $94.80 (£70.73) per barrel. Meanwhile, US-traded oil experienced an even steeper decline, dropping more than 15 percent to $95.75 per barrel.
This rapid decrease marks a pivotal shift after months of elevated prices. The Strait of Hormuz, a crucial maritime passage responsible for transporting roughly 20 percent of the world's daily oil supply, had been blockaded since the outbreak of conflict on February 28. That blockade severely disrupted Middle Eastern oil and gas exports, causing energy costs to skyrocket globally and placing considerable financial pressure on consumers.
Why Drivers Should Act Before Thursday Evening
Despite the promising news from oil markets, industry experts caution that it will take time for the full benefits of the reopened strait to filter through to petrol stations. Many analysts predict a lag of up to two weeks before significant price reductions become widespread at the pump. Consequently, filling up before Thursday at 5pm is recommended to lock in current rates before the typical weekly price increase.
William Fletcher, CEO of Car.co.uk, explained the weekly pricing pattern: "Prices usually rise on Thursday evening and remain elevated through Sunday. If you can plan ahead and fill up mid-week instead, you'll typically save 2-3 pence per litre, which adds up quickly over a year of driving."
This advice is echoed by other motoring specialists. Scrap Car Comparison highlighted that Friday and Saturday are historically the most expensive days to refuel, stating: "When it comes to saving money on fuel, the advice is simple: fill up early in the week. We typically see prices rise towards the weekend, with Friday and Saturday being the most expensive days due to increased leisure travel."
Long-Term Outlook and Market Realities
It is important to note that even with the recent decline, oil prices remain substantially higher than pre-conflict levels. Before the blockade began, Brent crude was trading around $70 per barrel, indicating that markets have not fully normalised. The conditional nature of the ceasefire also introduces an element of uncertainty, though the immediate reopening of the strait has provided much-needed relief to global supply chains.
While increased weekend leisure travel is a key driver of higher end-of-week fuel costs, broader factors such as global oil price fluctuations and local competition among retailers continue to play dominant roles in determining pump prices. Motorists are therefore advised to remain vigilant and consider refuelling earlier in the week as a consistent strategy for managing fuel expenses, especially during this period of market adjustment.
