UK Diesel Nears £2 a Litre as Fuel Prices Continue to Rise - Share Talk

UK Diesel Nears £2 a Litre as Fuel Prices Continue to Rise

UK fuel prices are continuing to climb despite the recent fall in crude oil, with the average price of diesel reaching 196.89p per litre, according to the RAC.

Average unleaded petrol has risen to 172.85p per litre, while diesel is now just over 3p away from the £2-a-litre mark.

Since the start of the conflict, petrol has increased by around 40p per litre, while diesel has risen by 54.5p per litre.

For a typical 55-litre family car, a full tank now costs roughly £95 for petrol and £108 for diesel. Compared with prices at the start of the conflict, that is around £22 extra for a tank of petrol and £30 extra for diesel.

For a household filling one car twice a month, that can mean roughly £44 more a month for petrol or £60 more for diesel, before taking into account any additional journeys for commuting, school runs or work.

The squeeze is especially severe for people who rely on their vehicles to earn a living. One self-employed tradesman said around half of his daily pay can now go on filling his diesel car, after his fuel costs roughly doubled.

Although oil prices have eased this week, changes in crude and wholesale markets can take time to reach forecourts, meaning motorists may continue to face elevated pump prices in the near term.

Persistently high fuel costs also feed through into food deliveries, tradespeople, couriers, taxis and haulage, increasing the risk that households pay more not only at the pump but across their wider weekly spending.


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