UK diesel prices reach record high of £2 per litre
The price of diesel in the UK has reached £2 per litre for the first time, according to the RAC. Reports indicate that rising global oil costs, linked to the war in Iran, are contributing to the price surge and impacting motorists and businesses.
First reported 1 hour ago · latest update 1 hour ago
The average price of diesel has risen above £2 a litre in the UK for the first time, according to the RAC motoring body, as the fallout from the Iran war continues to push up the cost of fuel.
Diesel has now hit an average of 200.01p a litre, the RAC said, and petrol prices are also still rising, reaching 174.71p a litre on average.
The RAC said price rises were "showing no signs of slowing, heaping more misery onto motorists".
The US has put increasing pressure on European countries to release more diesel stocks, to help lower diesel prices worldwide, with President Trump threatening to ban US exports of the fuel.
Banning exports would mean more US diesel for the domestic market, which could ease prices for American motorists ahead of the midterm elections in November.
However, it would be likely to push up prices elsewhere, including in the UK and the EU.
US President Donald Trump said he was considering a ban, and backed his Treasury Secretary Scott Bessent who has urged European countries to release diesel supplies "immediately", arguing that US farmers, truckers, and businesses "should not be left carrying the burden" as prices soar.
UK government ministers said they were working with both the US and the EU.
"We have a diverse and resilient supply. We continue to engage with our international partners and the UK fuel industry," a government spokesperson said.
The government has stressed that there is no cause for concern about potential diesel shortages, though prices are expected to rise further.
Over the past seven months, the Iran war has severely disrupted the production and transportation of wholesale oil and refined products from the region, causing prices to surge.
Ukrainian attacks on Russian refiners have further constrained supplies of diesel on the world market.
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UK diesel price hits £2 a litre for first time, RAC says
The motoring body says diesel price rises are showing no signs of slowing, "heaping more misery" onto drivers.
1 hour agoUK diesel price hits record high of £2 a litre
Motorists and small businesses struggle with costs as Iran war drives up cost of oil worldwide‘Half my day’s pay goes to filling up my car’Business live – latest updatesBritish motorists face more pressure at the pumps after the average price of diesel climbed to a record £2 a litre.The price at UK forecourts has risen sharply since late February, when the US-Israel war on Iran began disrupting supplies of crude and refined oil products from the Gulf, leading to cost increases across the economy. Continue reading...
1 hour ago · Jillian Ambrose