Understand
Average UK diesel price exceeds £2 a litre for the first time
Overview
According to the RAC motoring body, the average price of diesel in the UK has risen above £2 a litre for the first time, reaching 200.01p, while petrol has reached 174.71p. The price surges are driven by ongoing fallout from the Iran war and Ukrainian attacks on Russian refiners. Meanwhile, the US is pressuring European countries to release diesel stocks and considering an export ban, which could further impact international prices.
Key points
- The average price of diesel in the UK has hit 200.01p a litre, surpassing £2 for the first time.
- Petrol prices have also risen to an average of 174.71p a litre.
- The ongoing Iran war and Ukrainian attacks on Russian refiners have severely disrupted wholesale oil and refined products.
- Filling an average family car with diesel now costs £110, which is nearly £32 more than at the start of the US-Iran war.
- US President Donald Trump is considering banning US diesel exports to lower domestic prices ahead of midterm elections, a move that could raise prices in the UK and EU.
- The UK relies on imports for just under half of its diesel, with about 31% of those imports coming from the US.