Iran Parliament Backs Closing the Strait of Hormuz

[RisingSunn]

Can someone more knowledgeable than me explain how this will impact the UK? I'm assuming our oil prices will rocket?

Gulf water way for oil I think. From a UK point of view, yes, oil prices will rise so you can look forward to more rises in your gas bill.

20% of the world’s supply of oil and gas comes through the Strait.
Fuel costs will increase. With all the follow on effects

Right, thanks. Hopefully there will be a U-turn.