Diesel hits eye-watering £2 a litre as gas prices rocket regardless of Middle East peace deal
British motorists face a brutal squeeze as diesel hits £2 a litre and petrol costs soar to three-year highs, despite a Middle East ceasefire slowing oil prices
The price of petrol and diesel has soared over the last few weeks(Image: Jorge Guerrero/Getty Images)
British motorists are facing a brutal squeeze at the pumps as diesel prices have officially smashed through the £2 a litre barrier. Despite hopes that a breakthrough peace deal in the Middle East would provide some relief, fuel costs have rocketed to their highest levels in three years.
Data from the RAC reveals a grim reality for those filling up on the nation’s motorways, where the average price for a litre of diesel has hit 200.47p. That is a staggering 33p hike since the end of February, when regional tensions first ignited.
It isn’t just diesel drivers feeling the burn, as those running petrol engines are seeing costs spiral as well. Motorway petrol now averages 179.89p per litre, which is an increase of 22.4p.
Meanwhile, the national average for unleaded has climbed to 157.71p per litre, and the national diesel average has soared past the 190p mark.
Both fuel types are now sitting at their most expensive levels since the end of 2022, leaving family budgets in tatters.
The price explosion follows weeks of chaos in the Strait of Hormuz, a vital maritime artery that sees 20 per cent of the planet’s oil and liquefied natural gas pass through it annually. Restrictions on shipments have choked global supply, sending wholesale costs into orbit.
While a two-week conditional ceasefire was recently announced, sparking a 14 per cent overnight drop in Brent Crude prices, experts warn that drivers shouldn’t hold their breath for a discount.
Lower oil prices need to remain stable for several weeks before the savings “trickle down” to the local forecourt. The long-term impact on Gulf oil production remains a major question mark.
Simon Williams, head of policy at the RAC, warned that while the ceasefire is a start, the road ahead is rocky.
He said: “The conditional ceasefire announcement may have taken some heat out of global oil prices, but the outlook for drivers in the UK remains highly uncertain.
“The best hope in the short term is that pump prices stop rising at the rate they have been and hopefully top out in the coming days.”
Mr. Williams added that motorists should not expect “significantly cheaper fuel” any time soon. For now, the best advice for drivers is to hunt down the cheapest local forecourts to avoid the worst of the price hikes.
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