Currently reading: Diesel prices reach new high of 180.29 pence per litre
Diesel is now more expensive than before the government's spring statement, despite 5p cut

Diesel prices have reached an all-time high of 180.29 pence per litre, according to data firm Experian Catalist. 

The new record high is up from 179.9p recorded on the day of the government’s spring statement on 22 March, when chancellor Rishi Sunak announced a fuel duty cut of 5p per litre for one year. 

Petrol prices, meanwhile, have risen by 3p per litre since the start of May to 166.65p, slightly below the 167.3p figure from 22 March. 

Prices were originally driven to record highs due to Russia’s invasion of Ukraine. The RAC said prices are now rising again because of increased efforts to stop oil and fuel imports from Russia, which is squeezing supply.

"Sadly, despite the chancellor’s 5p-a-litre duty cut, the average price of a litre of diesel has hit a new record high at 180.29p, said RAC fuel spokesperson Simon Williams. "Efforts to move away from importing Russian diesel have led to a tightening of supply and pushed up the price retailers pay for diesel.” 

Prices could rise even further, having a significant impact on long-distance diesel drivers and those who use diesel vans and lorries for business, if the EU bans imports of Russian oil completely

“While the wholesale price has eased in the last few days, this is likely to be temporary, especially if the EU agrees to ban imports of Russian oil,” said Williams.

“Unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps. Had Mr Sunak reduced VAT to 15% as we called on him to do instead of cutting duty by 5p, drivers of diesel vehicles would be around 2p a litre better off, or £1 for every full tank. 

“As it is, drivers are still paying 27p VAT on petrol and 29p on diesel, which is just the same as before the spring statement.”

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Paul Dalgarno 16 May 2022

Bigger issue is the broken part of Capitalism.  

Can perhaps argue that fuel for cars is not essential, but what about wheat and other foods, what about electricity and gas used for heating (and cooling)? Time some essentials to life are removed from the world of supply and demand pricing and speculative markets methinks....

World has gone mad when inflation on food and fuel is leading to higher costs of living, and interest rate rises to quell the inflation taking even more money out of people on the breadline. 

Peter Cavellini 16 May 2022

In 2019 a litre of Petrol cost £1.55p, Deisel about 10p more, think the Chancellor better get his calculator out soon and help out all the Deisel users.

Andrew1 16 May 2022
Or, even better, hammer the final nail in the diesel coffin. Good riddance.
si73 16 May 2022
Andrew1 wrote:

Or, even better, hammer the final nail in the diesel coffin. Good riddance.

Is it not a bit soon to be doing that?
Mind you, our obsessive love for massive SUVs that aren't really viable with petrol might mean normal cars get purchased again, so, yeah, hammer that nail.

Andrew1 16 May 2022
I agree it is too soon, but only because we still deliver goods by lorries. By the way, the government might want to get to work on railways electrification - time to send those diesel engines to museums.