01/06/2026
Could lower energy costs bring some relief to household budgets?
A potential ceasefire extension between the US and Iran has pulled oil prices sharply lower, raising hopes that energy costs could start to stabilise.
Why does this matter? Lower oil prices can help reduce the cost of fuel, transport and energy over time, which may ease pressure on household spending.
However, uncertainty remains. The agreement is still awaiting President Trump's approval and the Strait of Hormuz is not yet fully open.
Read our latest market update and what it means for your household budget at www.lumonpay.com/articles/ceasefire-optimism-brings-oil-lower-but-uncertainty-keeps-markets