Record Diesel Costs Add Fresh Pressure on UK Economy

The UK economy entered "uncharted territory" on Monday, battling an assortment of financial pressures as fears intensified ahead of the next Budget. Diesel costs surged to a record high of 199.18p per litre, marking the latest energy shock on the UK economy. Stations were registered as charging 199.18p per litre, according to the RAC. The automotive firm said the price jump reflected "just how exposed the UK is to events occurring far away". Brent crude the international benchmark for oil prices also tipped above $96 per barrel after a four per cent jump on Monday morning. This followed renewed uncertainty around peace between the US and Iran after Trump rejected a proposal that sought to reopen the Strait of Hormuz.