UK diesel prices hit highest level since August 2024
Diesel prices in the UK have surged to a 16-month high since the start of the conflict in the Middle East, new figures suggest.
The RAC said the average price of a litre of the fuel at UK forecourts has gone up by 5 pence since Saturday to 147p.
It has not been this expensive since mid-August 2024.
Average petrol prices have risen by 3p per litre since Saturday to 136p.
The increases mean filling a typical 55-litre family car with petrol has become £1.65 more expensive, with a rise of nearly £3 for diesel cars.
Disruption to tanker traffic in the Middle East has sparked a rise in oil prices, which have a significant effect on wholesale fuel prices.
The price of Brent crude oil has risen by about 21% over the past week, exceeding $88 a barrel on Friday.
RAC head of policy Simon Williams said: ‘While wholesale costs for any retailer buying in new stock will have gone up, it normally takes two weeks for price changes to work their way through to the forecourt.
‘Brent crude jumped to $85 on Thursday, something we haven’t seen since July 2024.
‘If the price of a barrel stays at this level, or increases, then further forecourt rises will be inevitable.
‘While the rate of increase has been fast, we’re fortunately a long way from the record prices of 2022 when the average price of petrol hit 191.5p and diesel 199p.’
Analysis of the historic link between oil and fuel prices by think tank the Energy & Climate Intelligence Unit [ECIU] found that oil trading at $100 a barrel could see petrol prices hit 150p per litre.
Earlier this week, the AA said there was ‘no need for drivers to break their refuelling routine’.
By Neil Lancefield, Press Association Transport Correspondent
Press Association: Finance
source: PA
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