UK Retail Sales Rebound in March: Fuel Purchases Surge Amid Geopolitical Tensions
UK retail sales rebounded in March, driven by a surge in fuel purchases due to rising prices caused by geopolitical tensions in the Middle East. The Office for National Statistics reported a 0.7% increase in the total volume of retail sales compared to a 0.6% decline in February. Fuel sales saw a significant spike of 6.1% during the month, with the value of sales up by 11.6% as petrol and diesel prices soared. Petrol prices rose by 18.5% to 157.34 pence per litre, while diesel prices increased by 33.4% to 189.88 pence per litre. Overall retail sales volumes for the first quarter of 2026 are up by 1.6%, supported by positive growth in January. Retailers noted that motorists rushed to fill up their tanks in March following the escalation of conflict in the Middle East.