The average price of diesel in the UK has risen above £2 a litre for the first time, reaching 200.01p per litre, the RAC motoring body has reported. Petrol prices are also continuing to climb, with an average of 174.71p per litre.
The RAC states that these price increases show no signs of slowing. The cost of filling an average family car with diesel is now £110, which is almost £32 more than at the start of the US/Iran war. Filling a typical petrol car has risen to £96.09, an increase of £23.03 since February.
These higher fuel costs are attributed to a sharp increase in Brent crude prices since the beginning of the Iran war, which disrupted the production and transportation of wholesale oil and refined products. While crude oil flows through the Strait of Hormuz have returned to pre-war levels, the supply of refined products like diesel remains constrained by damage from conflicts in Ukraine and Iran.