Tesco is providing some relief to customers facing soaring fuel prices with a limited-time offer across approximately 600 petrol stations in the UK. Shoppers who spend £60 or more in-store can receive a voucher entitling them to 5p off per litre of petrol or diesel when refuelling at Tesco fuel stations.
This promotion is available until Sunday 16 August, with vouchers valid for use until Sunday 23 August. The voucher can provide up to £10 off and must be presented in physical form at the time of payment.
Fuel prices have surged to levels not seen since late 2022, with the national average reaching 159.89p per litre - the highest since November 2022. This spike comes amid ongoing geopolitical tensions in the Middle East, with recent escalations connected to the Iran conflict affecting global oil supply chains.
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Despite recent announcements of potential diplomatic talks aimed at easing tensions, uncertainty remains as Iran has denied renewed negotiations, suggesting continued volatility in fuel markets.
Meanwhile, figures released this week highlight a sharp rise in fuel theft across UK petrol stations in the wake of the crisis. According to Forecourt Eye, a fuel theft prevention company, the value of stolen fuel has increased by 48%, equating to nearly £200,000 lost daily across 8,359 stations. Such thefts include both drive-offs without payment and claims of inability to pay.
The impact is felt especially by independent forecourts, with the Petrol Retailers Association noting increased abuse and aggression towards staff amid the pressures of rising prices. Smaller operators also report mistaken assumptions by customers that branded stations are directly run by major oil companies, leading some to believe nonpayment bears no consequence for the forecourt owners.
To combat these challenges, Forecourt Eye has partnered with technology provider Facewatch to offer crime reporting and facial recognition tools to fuel retailers, facilitating better crime prevention and information sharing.
The ongoing instability affecting fuel prices reinforces the importance of diplomatic efforts, including discussions by UK Foreign Secretary Ed Miliband with US officials, to ensure safe passage of oil shipments through critical routes like the Strait of Hormuz.
Tesco’s fuel promotion provides motorists with a timely opportunity to ease the burden of high fuel costs during this uncertain period but is only available for a short time amidst wider market challenges.