The prospect of petrol prices falling by 8p a litre within a fortnight has emerged as a potential dividend of the US-Iran peace deal — a deal that Keir Starmer has vowed Britain will back by playing its “full part” in reopening the Strait of Hormuz.
Rocketing fuel costs have been the most obvious consequence of the four-month war that began when the US and Israel launched wide-ranging strikes on Iran on 28 February, killing the country’s supreme leader. Iran responded by effectively closing the Strait of Hormuz, a maritime chokepoint that had carried about a fifth of the world’s oil and gas supply, including 40 per cent of Europe’s jet fuel. At least 1,250 vessels have been trapped since the closure.
“Starmer pledges UK's 'full part' in reopening Strait of Hormuz after US-Iran deal, with petrol prices set to drop 8p.”
Speaking at the G7 summit in Évian, France, Starmer said the impact on energy prices had affected “every household across the country”. He described the reopening as “hugely important” and said he and French President Emmanuel Macron had put together a group of countries prepared to protect vessels. “President Macron and I put together a group of countries prepared to play their part in terms of reassurance to get vessels through the Strait of Hormuz,” he said.
The prime minister denied being snubbed by Donald Trump after the two did not hold a bilateral meeting, insisting they had a series of “very productive, very good conversations” focused on Iran and Ukraine. Starmer was caught on a hot mic asking “Are they having a meeting?” while Trump, Macron and Volodymyr Zelenskyy were absent.
Trump said on Monday he did not believe the US would “need much help” in ensuring free passage, but added it was not “a bad idea to have a ship or two” from other countries. He also warned that Iran would suffer “the ultimate consequences” if it ever developed or purchased a nuclear weapon: “all hell will rain down”. The deal, which Starmer described as “a really important breakthrough”, is expected to be signed on Friday.
Starmer said the UK could offer demining and has previously announced plans to deploy Typhoon fighter jets, drones and the HMS Dragon warship. Macron said about 20 countries had made concrete contributions, with four already present in the region. The prime minister stressed that the UK would play its “full part” in getting the strait reopened “as soon as possible”.