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Diesel prices could hit £2 a litre as pump prices surge to record levels

Diesel prices could hit £2 a litre as pump prices surge to record levels

By Jodie Chay Oneill |

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UK diesel prices have climbed by almost 50p a litre since February, with the RAC warning that another record high could be within reach

Diesel prices could hit £2 a litre as pump prices surge to record levels

Drivers and businesses are facing further pressure at the pumps as the average price of diesel in Britain approaches its all-time high, with the RAC warning that £2 a litre could soon become a reality.

The UK average diesel price rose to 191.69p per litre, according to the RAC. That is slightly above the previous recent high of 191.54p recorded on 15 April.

The latest increase has been driven by rising oil prices and disruption to global fuel supplies linked to the ongoing conflict in the Middle East. Damage to refineries and disruption to important shipping routes through the Strait of Hormuz have added to concerns over supply.

For motorists, the impact is already significant. Filling a typical 55-litre family diesel car now costs more than £105 at the average UK pump price.

The RAC believes diesel could soon surpass its current record of 199.05p per litre, set on 25 June 2022.

Simon Williams, head of policy at the RAC, said fuel prices had reached new highs linked to the conflict involving Iran and warned that motorists could face further increases.

He said both petrol and diesel had returned to price levels last seen in early August 2022, just months after the start of the war in Ukraine.

Diesel prices have risen by around 8p a litre since the start of September, while the price of crude oil has climbed above $100 a barrel.

Williams warned that there was currently "no end in sight" to high pump prices and the financial pressure they place on drivers who rely on their vehicles.

He added that diesel was now approaching the record price set in 2022.

Petrol is also becoming more expensive, although it remains further away from its own record. Unleaded currently stands at around 27 per cent above its February price, compared with a 34 per cent increase for diesel.

The RAC's Rod Dennis warned last week that diesel prices were likely to reach a new high within days and urged motorists to compare prices before filling up.

The scale of the increase is stark. At the end of February, diesel averaged 142.38p per litre. It has since risen by almost 50p, representing an increase of roughly 34 per cent in seven months.

Unleaded has also risen sharply, from an average of 132.83p per litre in February.

With oil prices remaining above $100 a barrel and global supply continuing to face disruption, motorists could now be heading towards a significant milestone: diesel at £2 a litre.