UK diesel price hits record high of £2 a litre
The average price of diesel in the UK has reached a record £2 a litre, increasing pressure on motorists and small businesses. The rise is linked to disruptions to global oil supplies following the US-Israel war on Iran, and has prompted calls for political leaders to protect consumers from higher costs.
The RAC put the average at 200.01p a litre on Friday, making it about £110 to fill an average family car, nearly £32 more than before the war. The UK transport minister said there was no diesel shortage in the country. Global supplies have also been squeezed by reduced refinery output in the Middle East and Russia, while the Strait of Hormuz previously carried about 10% of the world’s diesel supplies.
- UK diesel averaged a record 200.01p a litre.
- Filling a family car now costs about £110.
- War-related supply disruptions are driving up fuel costs.
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Diesel fuel powers vehicles used in everyday life, from family cars to commercial lorries. When diesel prices rise significantly, the cost is passed on to motorists and small businesses that depend on vehicles for their operations.
Global diesel supplies have been disrupted by geopolitical tensions involving the United States, Israel, and Iran. Fighting in the Middle East has affected the region's oil production capacity and created uncertainty in international energy markets.
The Middle East is a major source of global diesel supplies. A key shipping route called the Strait of Hormuz, located near Iran, carries about one tenth of the world's diesel through international waters to markets worldwide. When supply lines are threatened, prices increase.