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UK average diesel price reaches new record high

Date: 01 November 2021   |   Author: Sean Keywood

The average price of diesel at UK filling stations has hit a new record high, according to data from the RAC.

It said the average price of the fuel reached 147.94p per litre on 31 October, passing the previous record of 147.93p recorded on 12 April 2012.

The new record for diesel comes a week after average petrol prices hit a new record high of 142.48p per litre, and this figure has now gone higher still to 144.35p.

The new average diesel price represents a 30p increase in a year.

The RAC has attributed rising diesel prices to the cost of oil, which has doubled in the past year, and also the high cost of biodiesel.

RAC spokesman Simon Williams said: "While this isn't unexpected as petrol has already hit a new record price, it's still another body blow to drivers and businesses across the country who were already struggling to cope with rising prices.

"While the price of diesel on the forecourt has primarily shot up due the cost of a barrel of oil doubling in the last year from around $40 to more than $80, the price of biodiesel is now two and a half times what it was 12 months ago. This means the biodiesel content in a litre has rocketed from 7p to 16p, while the pure diesel component has doubled from 20p to 40p.

"Unlike petrol where retailers have increased their margin on every litre sold compared to 2012, the profit being taken on diesel is the same as it was nine and a half years ago, so we're pleased to report this isn't adversely contributing to the record price at the pumps."