How the Iran war affects your money and bills (opens original article in a new tab)

The Iran war has affected UK finances through higher fuel and mortgage costs, with energy bills set to rise in July. Inflation has increased, and interest rates may remain stable, impacting borrowing and savings.

• Fuel prices have risen due to the Iran war, with petrol and diesel reaching peaks in May and April, respectively, though they have since dipped slightly.
• Mortgage rates in the UK have fluctuated, with average two-year and five-year fixed rates increasing and then slightly decreasing, affecting monthly payments for many homeowners.
• Energy bills in the UK are set to rise by 13% in July due to higher wholesale costs, with no cap on heating oil prices impacting rural and Northern Irish households.