UK Diesel Price Reaches Two Pounds Per Litre, RAC Confirms

The average cost of a litre of diesel across UK filling stations has reached an unprecedented 200.01 pence, according to data released by the RAC motoring body. This new peak marks a significant financial burden for businesses and motorists nationwide.

Petrol prices also continue their upward trajectory, with the average litre now standing at 187.5 pence, also a record high. The RAC indicated that wholesale fuel costs have been driven upwards by increases in crude oil prices, which have climbed from $105 to $120 per barrel in recent weeks. Additionally, a weaker sterling against the dollar has exacerbated the situation, making dollar-denominated oil imports more expensive for the UK.

Simon Williams, a spokesperson for the RAC, highlighted the impact of the depreciating pound, noting that if sterling had maintained its value against the dollar, the average price for both petrol and diesel would be approximately five pence lower per litre. This currency effect has compounded the global commodity price increases, directly affecting consumer costs at the pump.