Is this just the start of energy crisis impacting us?

Israel and USA’s attacks on Iran have fuelled a fuel crisis that is already starting to impact the Welshpool area hard.

With the conflict showing no signs of slowing up, the price of oil and gas continues to sky rockets with the knock-on effects resulting in one Welshpool garage closing their unleaded petrol pumps.

H Ballard & Son on the ‘Back Road’ took to social media last week to explain that their prices were already shooting up due to panic buying placing unprecedented demand on supplies. They said the suppliers were already charging high prices.

But last night they announced that as “fuel prices are increasing at an alarming rate” they were not restocking petrol and selling diesel only.

“Due to the issues in the world at the moment, fuel prices are increasing at an alarming rate,” the company annpunced.

“So, we’ve made the decision to NOT restock on petrol as it is a ridiculous price at the moment, hopefully this will resolve itself in the near future. For now, we are only selling diesel.”

Brent crude oil was trading as high as $110 per barrel on international markets this morning, almost double the $66 that they were trading for in February.

There are concerns now that should the conflict continue for the longer term, prices for just about everything will sky rocket, resulting in an increase in interest rates.