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UK diesel prices have reached a record level amid the conflict involving the United States, Israel and Iran, while the government says the country’s fuel supply remains secure.
Transport Minister Keir Mather said on Friday that Britain had a diverse range of diesel suppliers and was working with the US, the International Energy Agency and European partners to maintain flows.
Prices surpass previous record
The average price of diesel in the UK reached £2 per litre on Wednesday, equivalent to nearly $2.7, as pressure on global energy markets increased.
The motoring organisation “RAC” said diesel prices hit a record 199.33 pence per litre earlier this week, exceeding the previous high of 199.09 pence set in June 2022 after Russia’s invasion of Ukraine.
Prices have risen by 59 pence per litre, or nearly 40%, since the US-Israel conflict with Iran began at the end of February.
Government points to supply resilience
“I want to reassure people this morning that the UK has got a diverse range of supply when it comes to diesel,” Mather told “Sky News”.
He said the country had built resilience into its supply system and pointed to the government’s decision to keep fuel duty frozen. Mather said people “shouldn’t be concerned about shortages because of the inherent resilience that is built into that system.”
More than half of the UK’s diesel is imported, and 31% of those imports come from the US.
G7 considers coordinated measures
Separately, G7 leaders have agreed to work “in a coordinated manner” to ease diesel prices. The measures include making production more flexible, releasing up to 100 million barrels from strategic reserves within four months, and avoiding energy restrictions among partner countries.
The developments follow US President Donald Trump’s comments that he could ask European countries to release diesel reserves while considering restrictions on US fuel exports.
