PETROL prices are set to rise amid attacks on Red Sea shipping.
Oil costs, which dictate prices at the pumps, shot up yesterday as Middle East tensions increased.
A barrel of Brent Crude rose by two per cent to $78.68 before falling later in the day.
Yemen-based Houthi rebels backed by Iran are targeting shipping they say is linked to Israel.
Experts fear the cost of ships being diverted from vital Red Sea routes will be passed on via higher food and fuel prices.
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Downing Street condemned the “destabilising” attacks but played down the prospect of sending more warships to the region.
Rishi Sunak’s spokesman said: “The Houthis should be under no misunderstanding, we are committed to holding malign actors accountable for unlawful seizures and attacks because the situation in the Red Sea is serious.
“These attacks are unacceptable, they are destabilising.”
The HMS Diamond destroyer has been deployed to the area as part of an international naval taskforce including the US and other allies.