Diesel prices broke a record in England: Emergency stocks fell to 42 days

While diesel prices in the UK have reached a historical peak, it has been claimed that the country's emergency fuel stocks have dropped to a level that can only cover 42 days of imports.

Sky News Economy and Data Editor Ed Conway said that England has become one of the most vulnerable countries in Europe against a possible supply crisis.

The average liter price of diesel in the UK reached 199.18 pence as of September 28. Thus, the previous record of 199.09 pence, recorded in June 2022, was surpassed.

RAC warned that the rise in prices could affect not only drivers but also the prices of goods and services through diesel-using trucks and commercial vehicles.

EMERGENCY STOCKS 42 DAYS

According to data cited by Ed Conway from Sky News, the UK's emergency diesel reserve is at a level that can cover approximately 42 days of imports.

Conway stated that Japan has a stock capacity exceeding a thousand days, and European countries such as Germany, France, Spain, Italy, Belgium and the Netherlands have higher reserves than the UK.

Stating that Australia is at a lower level with approximately 31 days of stock, Conway said that England is also at the bottom of the list with 42 days of reserves.

Conway pointed out that the UK's diesel stock capacity has decreased significantly compared to previous years.

Stating that reserves were above 100 days of imports in the early 2000s, Conway argued that the closure of refineries in the country over time was effective in the decrease in stock levels.

Conway said current levels raise questions about the UK's preparedness capacity, especially given the crisis around the Strait of Hormuz and global supply risks.

GOVERNMENT: SUPPLY CONTINUES NORMALLY

The British government states that there is no supply shortage at fuel stations at this stage.

The Ministry of Energy Security and Net Zero announced that gasoline and diesel shipments continue normally, and sales, deliveries and stock levels are closely monitored together with the industry.

British Finance Minister John Healey also said that the country "has the stocks it needs" and stated that negotiations with the USA regarding diesel supply are continuing.

The impact of the conflicts in the Middle East on oil production and shipment comes to the fore in the rise in fuel prices.

According to Sky News, a possible step by the USA to limit diesel exports could also pose a new risk for the UK.

Experts warn that diesel prices in the UK may remain at high levels unless there is a permanent decline in oil prices.