Diesel prices climb above 190p per litre for first time since August says AA

According to the AA, diesel is 23.95p per Liter more expensive than petrol.

As winter approaches, diesel prices have risen to their highest point since August. This is a blow to motorists.

On Thursday, the average UK pump price jumped to 190.12p per litre. This means that it now costs more than £104 for a 55-litre family vehicle to be topped up with fuel.

According to the AA, diesel is currently on average 23.95p a litre more expensive than petrol.

Luke Bosdet, AA, said that this was not only bad news but bad timing.

“The clocks that go back this weekend will soon cause the evening rush hour to become darkness.

“More lights, wipers, and heaters during winter months make vehicle engines work harder and consume more fuel.

He pointed out that many delivery and haulage companies pass fuel costs on to customers, which fuels inflation.

Diesel reached a high of 190p/litre for the last time in August when Russia’s war against Ukraine caused a rise in crude oil prices that pushed up refinery margins.

The crude oil prices dropped back, but have increased since September when the Saudi Opec cartel reigns in production.

Due to the strong demand for diesel as backup power generators, and concerns about a shortage of natural gas this winter, diesel prices are more under pressure than petrol.

Global refining capacity has been affected by strikes at French refineries.

According to the AA, pump prices for both fuels need to fall quickly due to wholesale prices.

It warned that although higher prices have not yet reached superstore forecourts, they were likely to.

Official figures have shown that petrol consumption in the last three months has been about 3% lower than pre-Covid levels.

According to the AA, people are less likely to use their cars due to high fuel prices.

It added that “essential trips, such as driving to work or school, shopping trips, and visiting family, make it difficult to reduce fuel consumption.”

The Competition and Markets Authority has been reviewing road pump pricing in light of a spike in pump prices this summer.

The CMA reported preliminary findings in July that showed “significant differences” between urban and rural areas in terms of prices.

This was in addition to the fact that the gap between crude oil prices and wholesale petrol and diesel prices was growing alarming.

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