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Commodities

Diesel Prices Hit Record High as Global Tensions Escalate

Guavy AI Editorial Team
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Oil
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The UK has seen a record high in diesel prices, exceeding 199.09p per litre, according to RAC Fuel Watch data.

This milestone comes amidst a complex mix of factors contributing to the surge in fuel costs.

Global oil prices have been volatile, with wholesale oil currently above $106 a barrel, up from $72 before the US-Iran war.

Russia's ban on diesel exports and its subsequent need to import supplies has also played a significant role in driving up prices.

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