Diesel Prices Hit Record High Amid Middle East Conflict
RAC reports diesel reaches 199.18p per litre, adding £31 to the cost of filling an average family car.
Quick Look
Diesel prices in the UK have reached an all-time high of 199.18p per litre due to the ongoing Iran war disrupting wholesale oil production and transportation, according to the RAC.
AI-generated summary
Why It Matters
The Iran war has disrupted wholesale oil production and transportation across the region over the past seven months.
Diesel prices have hit an all-time high of 199.18p per litre, according to the motoring organisation RAC, as the war in the Middle East continues to push up the cost of fuel.
Pertrol prices are also still rising, with a litre currently costing 174.13p.
Over the past seven months, the Iran war has severely disrupted the production and transportation of wholesale oil across the region, causing the price of fuels made from oil to surge.
RAC said diesel prices had entered "uncharted territory" and served as a reminder of "just how exposed the UK is to events occurring far away".
The previous high was 199.09p in June 2022.
The increase means the cost of filling an average family car with diesel is now £110, £31 more than at the start of the conflict.
Simon Williams, RAC's head of policy, said the diesel record "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," he said. Williams said prices at the pumps will not come down until there is a "sustained lower oil price - over several weeks, not days".
What to Watch
AI outlook — possibilities, not facts
Increased transport costs will be passed on to consumers for goods and services.
Very likely · Within weeks
Open Questions
- When will wholesale oil prices stabilize?
- How soon will retailers pass costs to consumers?
