UK diesel price hits £2 a litre as US calls for EU to release more stocks
UK diesel prices have reached a record high of £2 per litre, driven by global supply disruptions from the Iran war and attacks on Russian refineries. The G7 has agreed to release oil stocks to mitigate further price hikes and prevent export restrictions.
Why it matters
Rising fuel costs are creating significant economic pressure on households and businesses, threatening to increase inflation and delivery costs.
Figure caption, Watch: Diesel prices in the UK have hit an all time high - here's why
The average price of diesel has risen above £2 a litre in the UK for the first time, according to the RAC motoring group.
Diesel has now hit an average of 200.01p a litre, the RAC said, and petrol prices are also still rising, reaching 174.71p a litre on average.
The motoring group said price rises were "showing no signs of slowing, heaping more misery onto motorists".
Over the past seven months, the Iran war has severely disrupted the production and transportation of wholesale oil and refined products from the region, causing prices to surge worldwide.
Ukrainian attacks on Russian refiners have further constrained supplies of diesel on the world market. China has also restricted exports of refined fuels.
Also covering this story
11 other newsrooms covered this event. We read each version separately.
Britain in talks with European allies over release of emergency diesel stockpiles
Petrol price goes up again in October, diesel remains the same
Watch: Why has UK diesel price hit an all time high?
Petrol set to smash R30/litre next week; diesel may also hit record high
US tells France and Germany to release diesel stocks or face US export ban
Trump threatens diesel export ban unless France and Germany release emergency reserves
EU nations to hold emergency meeting on diesel prices
G7 Nations To Release 100 Million Barrels Of Oil Amid Fuel Price Surge
EU ‘fully rejects’ US threat to ban diesel exports unless bloc releases more fuel stocks
G7 nations agree to release 100 million barrels of oil, including diesel, boost for Trump
US weighs diesel export ban, urges Europe to release reserves
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in