Back to today’s briefing

Story perspectives

Asda Chairman Denies Retailer Profits Amid Fuel Price Surge

3/28/2026

24 2 Full Breakdown

Summary

Story summary

Allan Leighton, executive chairman of Asda, denied claims retailers profit from rising fuel prices linked to the Middle East conflict.
Prices have surged, with petrol over 150p per litre and diesel over 177p since the US and Israel attacked Iran.
Leighton said Asda's profit margins have decreased and supply is tight, with some pumps out of service.
The Petrol Retailers Association says fuel supply remains stable across the UK.

History

Historical Context

The 1973 Oil Crisis began when the Organization of Arab Petroleum Exporting Countries (OAPEC) imposed an embargo against nations supporting Israel during the Yom Kippur War, leading to a 400% increase in oil prices. This crisis reshaped global economies, particularly in the US and Europe, and echoes today as rising fuel prices, exceeding 150p per litre, reflect ongoing Middle Eastern tensions.

1 of 2

Story summary

Allan Leighton, executive chairman of Asda, denied claims retailers profit from rising fuel prices linked to the Middle East conflict.
Prices have surged, with petrol over 150p per litre and diesel over 177p since the US and Israel attacked Iran.
Leighton said Asda's profit margins have decreased and supply is tight, with some pumps out of service.
The Petrol Retailers Association says fuel supply remains stable across the UK.

1 / 2