UK diesel prices set for new all-time high next week

The average price of diesel in the United Kingdom is poised to reach a new all-time high next week, according to a forecast from the RAC. The automotive services group stated that the current average price of 195.32p per litre is just 4p below the record of 199.09p set in June 2022. Simon Williams, the RAC's head of policy, said the new record looks "increasingly likely" due to ongoing volatility in global energy markets. He noted that diesel has risen by 11.72p this month, with 5p added in the last week alone. The average price of petrol has also climbed, topping 172.02p per litre. The surge in fuel costs is linked to the continuing conflict in the Middle East. The RAC's analysis indicates that filling an average-sized family car with diesel now costs £107.43, which is £29 more than on February 28. For petrol, the cost to fill up is £94.61, an increase of £21.55 since the end of February. Williams stated that the average household buying fuel twice a month is now paying an extra £43 for petrol and £58 for diesel compared to the start of the conflict. This increase is contributing to broader inflationary pressures.