Diesel nears £2 per litre in Northern Ireland as UK hits record high price
Fuel prices in Northern Ireland are approaching £2 for a litre of diesel, as record-high prices were recorded across the UK.
According to figures compiled by the RAC, the average UK-wide cost stood at 199.18p as the conflict in Iran continued to send prices spiralling.
Today in Northern Ireland prices were lagging slightly below that level, but there wasn’t much in it.
Forecourt prices are peaking at 198.9p, fuel price checkers showed, which was found in several locations across the province.
Those highs were mainly in rural areas on the outskirts of towns – for example, a clump of service stations to the south of Omagh have all gone to that price.
It’s also found in the countryside around Cookstown, as well as stations near Larne, parts of rural Co Fermanagh and in south Co Down.
According to the RAC, the average cost of a litre of diesel in the UK is likely to pass £2 for the first time.
The current UK-wide average of 199.18p is 56.8p more expensive than at the start of the US-Iran war in February this year, when a litre averaged 142.38p.
The previous record high was 199.09p, reached in June 2022.
The cost of diesel has risen steadily in recent weeks due to the impact on global supplies from the ongoing conflict between Russia and Ukraine, and from renewed hostilities in the Middle East.
Russian exports of diesel have dropped sharply after many of the country’s oil refineries were targeted by Ukraine, with a key facility near Moscow damaged earlier this month as part of a huge drone operation.
This has led to extra demand for fuel from other diesel-exporting countries, causing wholesale prices to rise.
Meanwhile, the ongoing war between the US and Iran is continuing to disrupt the global trade in refined oil and other petroleum materials, with Iran’s effective blockade of the Strait of Hormuz limiting the production and supply of fuel needed by consumers.
The RAC data is based on the average price of diesel at a range of supermarkets, motorway service stations and independent retailers.
The cost of unleaded petrol has also been climbing in recent weeks and currently stands at an average of 174.13p per litre, up by 41.3p since the start of the US-Iran war.
RAC head of policy Simon Williams said: “The average price of a litre of diesel has now reached the highest level in UK history, in what will be a financial blow to households and businesses that use their vehicles regularly.
“The cost of filling up an average family car is now almost £110, £31 more than it was at the start of the US-Iran conflict.
“This spells pain not only at the pumps for drivers, but for everyone who buys goods or services that rely on diesel lorries and vans; undoubtedly these increased costs will be passed on to consumers.
“Only a sustained lower oil price – over several weeks, not days – will lead to cheaper prices at the pumps.”
A total of 15.1m diesel-fuelled vehicles were licensed to be on UK roads at the end of June. That’s down from 15.7m last year, according to the latest figures from the Department for Transport.