Iran Fuel Prices: Farmers & Hauliers Express Concern Over Rise
A Welsh haulier, Owens Group, reported a £64,000 increase in its weekly fuel bill as oil prices surged following the conflict in Iran, according to a statement released on March 19, 2026.
The price of diesel has risen by 30% for the company, which operates a fleet of 600 trucks and vans across the United Kingdom, and continues to climb, founder Huw Owen said. The company has lost the ability to pre-order fuel for a week or fortnight, and is now negotiating daily delivery costs with suppliers.
The escalating fuel costs are linked to disruptions in shipping through the Strait of Hormuz, a critical maritime route for oil and fertilizer, following joint U.S. And Israeli airstrikes on Iran on February 28, 2026. Attacks on vessels transiting the strait have constricted the flow of oil, driving up global prices. Approximately 20 million barrels of oil per day passed through the strait in 2024, representing around 20% of global petroleum liquids consumption, according to the Energy Information Administration.
American farmers are also facing increased financial strain. The American Farm Bureau Federation stated on March 21, 2026, that the closure of the Strait of Hormuz and the resulting price increases for fuel and fertilizer “pose significant consequences for the food supply chain in America and around the world.” Planting season is approaching, and organizations are warning of challenges ahead.
Diesel prices in the U.S. Averaged $5.07 per gallon on March 19, 2026, a 4.5% increase from the previous week and a 30% increase from two weeks prior, when the average was $3.89 per gallon. Gasoline prices also rose to an average of $3.72 nationwide, a 6% increase week-over-week and a 23.5% increase over the past two weeks.
Ag shippers are anticipating higher rail, barge, and vessel expenses, with some grain elevators potentially passing these costs onto farmers, according to industry experts. Disruptions in the Strait of Hormuz have reduced vessel traffic to almost nothing, with only nine ships recorded as having transited the strait on March 18, 2026.
President Donald Trump called for international assistance in reopening the strait on March 18, 2026, and stated that the U.S. Had destroyed 30 Iranian mine-laying ships in an effort to protect commercial shipping. The Road Haulage Association has urged the UK government to maintain the 5p cut in fuel duty, scheduled to expire in September.
The Treasury has stated it will work to ensure drivers receive “a fair deal” at the pump, but has not indicated any further action.