'Don’t expect fuel prices to return to pre-Iran war levels anytime soon'

'Don’t expect fuel prices to return to pre-Iran war levels anytime soon'The ceasefire announced between the US and Iran may have averted an even worse crisis - for now - but an emboldened Tehran now knows it hold the joker in the packCommentsMoneyopinionGraham Hiscott Business and Consumer Editor08:22, 08 Apr 2026Updated 08:26, 08 Apr 2026View 4 ImagesThe Middle East war saw fuel prices in the UK - and elsewhere - surge (Image: Geoffrey Swaine/Shutterstock)So, Donald Trump stepped back from the brink of unleashing “all hell” on Iran with just an hour and a half to spare.‌America’s deluded dealermaker-in-chief possibly considered his doom-laden threat to wipe out a “whole civilisation” a grim negotiating tactic worth employing to force Tehran to capitulate.‌Yet just what has the President achieved after five weeks of war which has brought so much death and destruction and wreaked economic havoc? A two-week ceasefire with no certainty of long-term peace.‌Iran’s regime - albeit under a different management - remains in place, still has its nuclear programme, and is emboldened after withstanding everything the world’s most powerful military has thrown at it.View 4 ImagesA build-up of tankers unable to get through Strait of Hormuz(Image: AP)Those now in charge are also in no doubt about one other crucial thing: their ability to use the Strait of Hormuz to hold the world hostage.‌By choking off oil and liquid gas shipments through the narrow waterway, they hold the joker in the pack.Just what will be the price to pay for Iran removing tankers from its cross hairs? While ships from what it considers unfriendly nations have been blocked, others have been let through.Only at cost, through what has become known in the shipping world as the “Tehran Toll Booth”. Analysts have estimated Iran could generate billions annually from charging vessel to use the strait.‌View 4 ImagesDonald Trump called the ceasefire "A big day for World Peace!"(Image: Anadolu via Ge...