- Diesel prices in the UK have surged by an average of 18p per litre since the Middle East conflict began on 28 February, reaching 160.3p per litre and marking their highest level since November 2023.
- Petrol prices have also climbed by 7% over the same period, from 132.8p to 141.5p per litre, a level not witnessed since August 2024.
- The escalating conflict has driven global oil prices above $100 a barrel for the first time since 2022, with Iran's perceived control over oil tankers in the Strait of Hormuz cited as a factor.
- RAC's head of policy, Simon Williams, explained that the UK's reliance on diesel imports, due to fewer domestic refineries geared towards diesel production, contributes to its faster price increase.
- Chancellor Rachel Reeves and Energy Secretary Ed Miliband met with petrol retailers, including Asda, BP, and Shell, warning them against 'unfair practices' amidst rising fuel costs.
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