2 days ago
UK Diesel Prices Hit Record Amid West Asia Conflict
Diesel has become more expensive in the UK than ever before.
The average price is now 199.18 pence for one litre.
This is slightly higher than the previous record set in 2022.
A conflict in West Asia has made it harder for countries to get enough fuel.
Oil prices have also risen sharply.
Diesel is especially affected because there is limited capacity to turn oil into diesel.
The UK makes only about half of the diesel it uses, so it must buy much of it from other countries.
Russia has stopped exporting diesel, and the United States may limit its own exports, which could make supplies even tighter.
UK average diesel prices reached a record 199.18p per litre, surpassing the 2022 record of 199.09p.
Diesel prices have risen by 15p per litre in September, while petrol prices increased by more than 11p to 174.13p.
Wholesale oil prices are above $106 a barrel, compared with about $72 before the conflict.
The UK produces only about half the diesel it needs and relies heavily on imports, leaving it exposed to supply shortages.
Russia’s diesel export ban and refining disruptions are tightening supplies, while the United States is considering restricting exports.
- Who
- UK motorists and fuel suppliers are affected; Russia and the United States are also involved in global diesel supply.
- What
- UK diesel prices reached a record 199.18 pence per litre amid tightening global fuel supplies.
- Where
- The price rise is affecting the United Kingdom and reflects disruptions in global fuel markets linked to the West Asia conflict.
- When
- The record was reported in September, when diesel prices had risen 15p per litre so far that month.
- Why
- Conflict-related disruptions, limited refining capacity, Russia’s diesel export ban, and the UK’s reliance on imports have tightened diesel supplies.
Key facts
- Record diesel price
- 199.18p per litre
- Previous record
- 199.09p per litre in 2022
- September diesel increase
- 15p per litre
- Average petrol price
- 174.13p per litre
- Wholesale oil price
- Above $106 per barrel, compared with about $72 before the conflict
- UK diesel production
- About half of domestic demand
- Potential future price
- RAC policy head Simon Williams warned diesel could exceed £2 per litre if oil prices do not fall sharply
Sources
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