The chairman of Asda has rejected accusations that petrol sellers might be “profiteering” from higher pricing in recent weeks, as some of the supermarket’s forecourts reported ‘temporary’ fuel shortages.

With petrol above 150p per litre for the first time in two years, Allan Leighton, executive chairman of Asda denied the supermarket was “profiteering” from the situation after Prime Minister Keir Starmer warned petrol stations against taking advantage of the conflict in the Middle East.

When asked if that was the case, Mr Leighton said “no” adding their profit margin “will be down as a result (of the war).”

Leighton also said the retailer has seen bumper demand from drivers in response to the volatility in prices due to the war in the Middle East, leading to “tight” supply.

He said: “Our fuel volumes are up quite significantly and clearly demand has been outstripping supply.

Although he stressed the issue has only affected “the odd pump” at a small number of its petrol forecourts, highlighting no forecourts have been fully short of fuel.

An Asda spokesperson told ITV News all its forecourts were receiving their expected fuel deliveries but “from time to time an individual pump may be briefly unavailable while it is being refilled, but customers will continue to have access to fuel across our estate.”

Petrol is has gone over 150p a litre. Credit: PA

Petrol and diesel prices have lifted significantly since the end of February after the US-Israel war with Iran led to disruption in the production and supply of oil from the Middle East.

Fuel Industry UK, which represents the fuel sector, said the supply of petrol and diesel is “stable”.

The Petrol Retailer Association (PRA) has echoed this, saying that suppliers are “working hard to deliver normal levels of supply through a mix of UK refinery production and imported fuels”.

“Industry and government remain in regular contact to monitor deliveries and stock levels in the UK as well as the situation internationally”, they added.

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The average price of unleaded petrol has risen by more than 17p a litre since the end of February to 150.11p, according to fresh RAC data.

RAC head of policy Simon Williams said: “Petrol has now broken through the unwelcome milestone of 150p a litre, something drivers haven’t seen since mid-May two years ago, while the average price of diesel is now approaching 180p at 177.68p.“With the long-awaited four-day Easter weekend almost within touching distance, the cost of getting away by car is going to be noticeably higher this year.”

Last year, around 90% of crude oil refined in the UK – which is used to produce petrol – was imported, with around 1% of this imported from the Middle East, with most coming from the US and Norway.Around 7% of diesel is imported from the Middle East.UK refinery production of petrol, from crude oil, exceeded demand in 2025, according to official data.

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