Diesel price reaches £2 per litre in UK for first time
US puts pressure on Europe to release reserves
The prices of diesel in the United Kingdom have reached a record high, according to motoring organisation the RAC, climbing to £2 a litre for the first time
It comes as US President Donald Trump said he may ask countries in Europe to release diesel reserves as he considers banning US exports of the fuel
The move could bring prices down significantly for American drivers, but experts have warned it would put additional pressure on diesel prices in other countries
The US is a vital supplier of diesel to the world, exporting between 1.2 and 1.5 million barrels per day. More than half of the UK’s diesel is imported, with 31% coming from the US
Members of Trump’s Republican Party have been ramping up pressure on the president to curb diesel exports, ahead of next month’s US midterm elections, writes our North America reporter
This comes as European ministers are meeting on Friday to discuss the potential ban
“This is a pump price threshold that no-one wanted to cross,” says RAC head of policy Simon Williams.
It comes after the average price of a litre of diesel rose to a record 200.01p in figures released by the RAC this morning.
Diesel prices are “showing no signs of slowing, heaping more misery onto motorists,” Williams says.
He adds: “The cost of filling up an average family car is now £110, almost £32 more than it was at the start of the US/Iran war.”
“With electricity and gas bills also rising, household budgets will already be squeezed,” Williams says.
“Drivers will be looking to the government to step in and ease the burden by lowering fuel duty further or reducing VAT in October’s budget.”
