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Story summary
- Richard Walker, executive chair of Iceland, urged the UK government to extend the fuel duty cut due to rising petrol prices linked to the Middle East conflict.
- The blockade of the Strait of Hormuz has caused global oil prices to surge.
- The RAC reported a 30% increase in diesel prices and a 16% rise in petrol prices since the war began.
- The UK government plans to review fuel duty in September, while other countries, like Australia, have implemented larger cuts.
- Opposition parties are proposing measures to address the cost of living crisis.
