Petrol and diesel prices in the UK hit a six-year high in July, contributing to a sharp rise in inflation. The increase follows disruptions in global oil supplies caused by the Middle East conflict, which has led to higher energy costs for households and businesses. The Bank of England warned that sustained price growth could further strain consumer spending and economic stability. With summer holidays adding to travel and fuel expenses, the financial impact is being felt across the country. Officials are closely monitoring the situation as they prepare for potential adjustments to interest rates in the coming months.