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UK Diesel Prices Soar to Record High Amid West Asia Conflict and Supply Squeeze
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Firstpost•28-09-2026, 17:03
UK Diesel Prices Soar to Record High Amid West Asia Conflict and Supply Squeeze
- •UK diesel prices hit a record 199.18 pence per litre, surpassing the 2022 peak, driven by tightening global supplies.
- •The West Asia conflict has pushed wholesale oil prices above $106 a barrel, up from $72 before the conflict.
- •Diesel prices are rising faster than crude due to limited refining capacity and increased competition for refined diesel cargoes.
- •The UK is particularly vulnerable, importing half its diesel needs, with historically low fuel storage levels adding to supply concerns.
- •Russia's diesel export ban and potential US export restrictions further exacerbate the global supply squeeze, impacting UK imports.
Key Questions Answered
UK diesel prices have reached a record high of 199.18 pence per litre, surpassing the previous peak of 199.09p set in 2022.
Diesel prices are outpacing crude because refined diesel supplies face severe pressure, and limited global refining capacity prevents markets from easily replacing lost supplies.
The UK produces only about half of the diesel it requires and depends heavily on imports, making it exceptionally vulnerable to current international supply constraints.
