Diesel price passes 150p a litre for first time

Average price of the fuel at UK forecourts hit 150.5p a litre on Saturday, while petrol is also at record highs

Ben Chapman
Monday 15 November 2021 15:33
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<p>Until last month, the highest average price of diesel was 147.93p, recorded in April 2012</p>

Until last month, the highest average price of diesel was 147.93p, recorded in April 2012

The price of diesel has risen to a new record high, surpassing 150p per litre for the first time, according to the AA.

The average price on Sunday was 150.09p, after hitting a high of 150.5p the day before, the AA said.

Motorists have faced surging fuel costs this year as the global economy has recovered after lockdowns and travel restrictions.

Petrol prices also rose to a new record level, of 146.53p per litre on Sunday. The cost of filling a typical 55-litre family car with petrol or diesel has increased by around £18 over the past year.

Last month, the average price of a litre of diesel at UK forecourts passed a previous high of 147.93 set in April 2012.

Since then, the government has frozen fuel duty in a bid to keep costs down, despite government pledges to cut CO2 emissions.

AA fuel price spokesman Luke Bosdet said: “Diesel setting a record of £1.50 a litre isn’t just yet another milestone along a bleak road of pump price increases this year.

“As the workhorse fuel for deliveries and craftspeople who drive to customers, it will likely usher in even higher costs for goods and services.”

Rising oil prices are the main driver behind the higher cost of diesel, and a weak pound is also contributing, Mr Bosdet said.

The latest rise will put further upward pressure on the cost of goods which are transported by diesel-powered vehicles.

Logistics companies have warned of price rises after a shortage of lorry drivers forced many to offer big salary increases. Businesses are also battling with longer delivery times and higher shipping costs due to backlogs at ports around the world.

Mr Bosdet added: “Many bigger businesses have insulated themselves against higher fuel costs with a system of surcharges on deliveries.

“If pump prices go up, their customers pay a percentage more for deliveries, and that gets passed on to the consumer.

“However, smaller businesses, particularly in rural areas, have little choice but to charge shoppers and clients directly. That strains customer relations and potentially puts jobs and contracts in jeopardy.”

RAC fuel spokesperson Simon Williams said: “The high prices drivers are having to endure at the pumps are also coming at a time of rising domestic energy costs and in turn inflation, which risks making the coming winter a horrendously expensive one, especially for those on lower incomes.”

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