UK diesel prices have climbed to a record level as the conflict involving the US, Israel and Iran continues to put pressure on international energy markets.
The average diesel price in Britain reached around £2, or nearly $2.70, per litre on Wednesday. Despite the sharp increase, Transport Minister Keir Mather said the country’s diesel supplies remain strong and resilient.
Speaking to Sky News on Friday, Mather said the UK has a diversified supply network and is working with the US, the International Energy Agency and European partners to maintain fuel supplies. He also highlighted the government’s decision to freeze fuel duty and said consumers should not be worried about potential shortages.
Motoring organization RAC reported that diesel prices hit a record 199.33 pence per litre earlier this week. This exceeded the previous high of 199.09 pence recorded in June 2022 after Russia invaded Ukraine.
Since the US-Israel conflict with Iran began in late February, UK diesel prices have increased by 59 pence per litre, representing a rise of almost 40%.
More than half of Britain’s diesel supply comes from imports, with the US accounting for around 31% of those imports.
Meanwhile, G7 leaders have agreed to coordinate measures aimed at reducing pressure on diesel prices. The proposals include increasing flexibility in fuel production, releasing up to 100 million barrels from strategic reserves over four months and preventing energy restrictions between partner nations.
The developments follow comments from US President Donald Trump that European countries could be asked to release diesel reserves as his administration considers possible restrictions on American fuel exports.
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