6:50 am, April 9, 2026
Diesel tops 190p a litre but US-Iran ceasefire raises hopes of price stability
The UK’s average price of diesel has surpassed 190p a litre, having surged by more than a third since the start of the Iran war, new figures show.
But experts said the ceasefire agreement between the US and Iran has raised hopes that pump prices could ‘top out’ in the coming days.
The average price of diesel was 190.6p on Wednesday morning, up 34% since February 28, the RAC said.
Lexus announces prices and specifications for ES electric saloon
Lexus has revealed prices and specifications of the ES electric saloon ahead of its on-sale date later this year.
The ES is a premium four-door saloon that is a left-field choice among British buyers, taking on cars such as the BMW i5.
The latest model will be available in three trim levels: Premium, Premium Plus and Takumi.
Mini creates one-off John Cooper Works Convertible for longtime enthusiast
Mini has created a one-off John Cooper Works Convertible for a long-serving customer.
Named the ‘Mini.01’, the car will be delivered to the client in the United States, while the vehicle was produced at the firm’s plant in Oxford.
The Mini.01 features a triple-layered two-tone paint finish in Midnight Black and a unique shade of metallic green chosen by the customer.
The markets
Stocks in London soared on Wednesday, as oil prices fell back sharply after the US and Iran struck a two-week ceasefire.
The FTSE 100 closed up 260.09 points, 2.5%, at 10,608.88. The FTSE 250 ended up 878.38 points, 4.1%, at 22,434.83, and the AIM All-Share rose 25.38 points, 3.4%, to 763.81.
In European equities on Wednesday, the Cac 40 in Paris closed up 4.5%, while the Dax 40 in Frankfurt jumped 5.1%.
Wednesday on Car Dealer
Failed supercar dealer GVE London starts selling off assets as it continues to hold customer cars
Failed supercar dealer GVE London has raised just £40,100 from asset sales against debts exceeding £1.1m. Administrators continue investigating disputed vehicle ownership, with some cars returned but others still under review as efforts to repay creditors continue.
Motonovo owner to pull out of UK in protest at FCA’s ‘deeply flawed’ redress scheme
FirstRand Bank plans to exit the UK by selling Aldermore after slamming the Financial Conduct Authority redress scheme as ‘unfair’. It has increased provisions to £750m, citing excessive costs and regulatory risk.
Close Brothers Motor Finance estimates 720,000 of its loans will qualify for redress scheme
Close Brothers Group expects the Financial Conduct Authority redress scheme to cost about £320m, covering 720,000 loans. It says the impact is manageable, with average payouts around £500 and no change yet to its existing provisions.
Motorpoint backs profits to soar to £7.5m after record-breaking year of sales in 2026
Motorpoint expects FY26 pre-tax profits to jump 83% to £7.5m after record sales of 65,000 cars. Strong margins and AI-driven sales helped offset inflation, with further growth planned including a new Leeds site.
Iran ceasefire under threat as Tehran closes Strait of Hormuz again
The US has demanded that Iran reopen the Strait of Hormuz after the Islamic Republic closed the waterway in response to Israeli attacks against the Hezbollah militant group in Lebanon.
Tehran’s move cast doubt over whether an already precarious ceasefire to end more than a month of war would hold.
The US and Iran both claimed victory after reaching the agreement, and world leaders expressed relief, even as more drones and missiles hit Iran and Gulf Arab countries.
Co-op plans to take over hundreds of shops in Southern Co-op deal
The Co-op Group is planning to take over Southern Co-op in a deal that would add hundreds of food and funeral shops to the retail giant’s chain.
The societies announced proposals that would need to be approved by members to go ahead. It involves bringing Southern Co-op’s 300,000 members into the seven million-strong Co-op Group, as well as its roughly 300 food, funeral and Starbucks coffee branches.
Co-op Group will also gain its three crematoria under the deal, enabling it to re-enter the growing market alongside its funeral services.
UK hits highest early April temperature in 80 years, Met Office says
Wednesday was the hottest day recorded in the first half of April since 1946, the Met Office said.
Temperatures reached a high of 26.6C in Kew Gardens, south west London, the forecaster said. The record temperature is the highest recorded in the United Kingdom during the first half of April in the last 80 years.
However, today is expected to see rain and cooler, showery weather moving southeast across the UK.
