UK Diesel Prices Reach Record High

UK Diesel Prices Reach Record High
Diesel prices in the UK have reached a record high.

Diesel prices in the UK have reached a record high of 180.29 pence ($2.21) per liter, the RAC highlighted on Monday.

The price move comes less than two months after UK Chancellor Rishi Sunak announced a five pence ($0.06) per liter cut on the average price of fuel, the RAC pointed out. The previous diesel price high was recorded on March 23, 2022, at 179.90 pence ($2.207), the RAC outlined.

The RAC, which highlighted that the UK government has tried to move away from its reliance on importing Russian oil in recent weeks, also warned that the price per liter for petrol cars is “fast approaching” record levels of 167.3 pence ($2.05) per liter, which were set on March 22.

“Sadly, despite the Chancellor’s five pence a liter duty cut the average price of a liter of diesel has hit a new record high at 180.29 pence,” RAC fuel spokesperson Simon Williams said in a company statement.

“Efforts to move away from importing Russian diesel have led to a tightening of supply and pushed up the price retailers pay for diesel. While the wholesale price has eased in the last few days this is likely to be temporary, especially if the EU agrees to ban imports of Russian oil,” Williams added in the statement.

“Unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps,” Williams continued.

The RAC’s fuel price watch tool is currently warning drivers that prices for unleaded, super unleaded and diesel are likely to rise.

On March 23, Sunak gave his Spring Statement to the House of Commons, where he discussed rising fuel prices and the cost of living. Reacting to the Chancellor’s announcement at the time, RAC head of policy Nicholas Lyes said, “we’re pleased to see the Chancellor has given drivers some much-needed relief at the pumps, but the reality is that a five pence cut in duty is something of a drop in the ocean”.

Founded in 1897 as the Automobile Club of Great Britain, the RAC provides a range of services, including breakdown assistance and insurance.

To contact the author, email andreas.exarheas@rigzone.com


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