A taxi firm serving the Cotswolds area has lifted its fares following a surge in fuel prices connected to tensions involving Iran. Excelsior Taxis, which is headquartered in Chipping Norton, said that implementing the price rise was not a decision taken lightly but has become essential from today onwards.

This adjustment comes after fresh RAC data showed that the average price of unleaded petrol has jumped by more than 17p per litre since late February, hitting 150.11p per litre. Petrol and diesel costs have both risen significantly since late February after military activity between Iran and groups backed by the United States and Israel led to disruptions in Middle Eastern oil output and supply chains.

The transport business communicated to customers that they wanted to be transparent about recent changes. The company explained that as fuel prices continue rising, they had no alternative but to implement the difficult decision to increase fares immediately. The statement emphasized that their priority has always been providing dependable, high-quality service, and this step allows them to maintain those standards. The company indicated it will continue monitoring the situation and adjust prices as circumstances require.

RAC head of policy Simon Williams commented that petrol has now passed the unwelcome milestone of 150p per litre, something drivers have not experienced since mid-May two years ago, while the average diesel price is now approaching 180p at 177.68p. He noted that with the upcoming four-day Easter weekend approaching, the cost of motoring will be considerably higher this year.