UK diesel price hits record 199.52p a litre

The average UK diesel price has reached a record 199.52 pence a litre, official figures showed Tuesday, bringing the cost close to £2, or $2.62, a litre.

The figure, for the week to October 5, passed the previous record of 199.22 pence a litre set in July 2022 after Russia's invasion of Ukraine.

The average started the year at around 140 pence a litre and has risen since the start of the US-Iran conflict at the end of February. Diesel prices have also been affected by Russian export restrictions after Ukrainian attacks on fuel facilities.

Fuel costs have risen in other countries. The motorists' association AAA said the average US diesel price reached a record of almost $6.53 a US gallon in late September.

US President Donald Trump signed an executive order on October 5 allowing drivers to use tax-exempt red-dyed diesel on public roads. The fuel is normally reserved for farm machinery and other off-road equipment.

G7 countries, in coordination with the International Energy Agency, agreed on October 2 to release 100 million barrels of diesel and crude oil in an effort to cool prices.