Standard diesel has climbed to an average cost of 199.18p per litre
The average price of diesel in the UK has hit an all-time record high, with the price of standard diesel climbing to 199.18p per litre this weekend as forecourts around the country continue to increase prices.
According to the RAC, that is the highest price ever recorded in the UK. The previous high of 199.09p per litre was recorded in June 2022, shortly after Russia’s invasion of Ukraine.
The price of diesel has risen by 20 per cent since the middle of July as the pressure on global oil markets caused by the Iran war caused a second spike in UK prices.
The average price of standard unleaded petrol is now at 174.1p per litre, and while this has also risen sharply in recent weeks, it has not reached the same record levels as diesel. Following the invasion of Ukraine, the price of unleaded peaked in July 2022 at 191.5p per litre.
The price of standard unleaded is also rising, and could break through the £2 barrier with more than 50 forecourts at motorway service stations now charging 199.9p per litre.
You can find the cheapest petrol prices in your area by using our interactive tool:
The main reason for the steady increase in the cost of diesel in recent weeks is the ongoing conflict between Russia and Ukraine, and from renewed hostilities in the Middle East. Both scenarios are putting increased pressure on global supplies and routes.
Russian exports of diesel have dropped sharply after many of the country’s oil refineries were targeted by Ukraine, with a key facility near Moscow damaged earlier this month as part of a huge drone operation. This has led to extra demand for fuel from other diesel-exporting countries, causing wholesale prices to rise.
RAC head of policy Simon Williams said: “The average price of a litre of diesel has now reached the highest level in UK history, in what will be a financial blow to households and businesses that use their vehicles regularly. The cost of filling up an average family car is now almost £110, £31 more than it was at the start of the US-Iran conflict.”
He added: “This spells pain not only at the pumps for drivers, but for everyone who buys goods or services that rely on diesel lorries and vans; undoubtedly these increased costs will be passed on to consumers. Only a sustained lower oil price – over several weeks, not days – will lead to cheaper prices at the pumps.”
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