What's happening to petrol prices now oil is back to pre-Iran war levels?

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Image source, Maskot/Getty Images By Faarea Masud , Alex Daniel and Michael Race , Business reporters Published 2 March 2026 Updated 6 hours ago Motorists in the UK are already seeing cheaper fuel prices after the US and Iran struck an agreement to end their war, with further falls expected in the coming weeks. When the conflict began on 28 February, fuel costs jumped as the war significantly disrupted the production and transportation of energy across the Middle East. However, in recent weeks they have dropped and the framework deal reached between the US and Iran has sent them to their lowest point since the first days of the war in early March. Motoring group the AA has said it expects pump prices to fall further and "the timing is perfect for the start of the summer holidays". Meanwhile rival group the RAC has said price reductions "should be faster and greater, particularly for diesel". How do wholesale oil prices affect the cost of petrol and diesel at the pu...
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One of India's largest gold exporters paid its managing director just $180 a month, investigators say in accounting probe

Indian authorities uncovered multiple accounting and operational irregularities at one of the country's largest gold companies, Rajesh Exports , according to an investigation released Wednesday, weeks after market regulators raised concerns over the company's reported revenue. The Bengaluru-based company, which also owns Switzerland-based major gold refiner Valcambi, reported consolidated revenue of more than 7.7 trillion rupees ($81 billion) last year, the Directorate of Enforcement said in a statement. Its managing director was paid a monthly salary of 17,000 rupees (around $180) and the chief financial officer had not received a salary since 2020, the agency said. "The company's key business indicators showed significant departures from normal commercial practices," the agency said. Shares of the company dropped around 5% on Thursday before hitting the exchange-imposed lower trading limit, according to data on LSEG. Search and seizure operations at the company's offices in Bengaluru and Mumbai found that the firm had insufficient records of foreign transactions, accounting discrepancies totaling 30 billion rupees, alleged stock manipulation and an under-reporting of physical gold inventory by around 40%, the investigation revealed. Earlier this month, the Securities and Exchange Board of India, in a separate investigation, found that 97% to 99% of the company's revenues appeared inflated. The regulator described the revenue gap as "egregious and unheard of" and issued a notice seeking an explanation. In its response, Rajesh Exports had said that it " has never indulged in any mis-reporting and all its filings, financial numbers including revenue is true and genuine." CNBC has reached out to Rajesh Exports and Valcambi for comment and is awaiting a response. Rajesh Exports is a gold refiner and manufacturer of a wide range of gold products. It exports gold jewelry and gold products from Switzerland, India, and Dubai.

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