UK diesel hits record at about £2 a litre as petrol climbs to 174.8p
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UK diesel and petrol prices hit record highs, reflecting persistent energy supply-risk premia tied to the Iran-related Middle East conflict. The pass-through into retail fuel underscores tight refined-product markets and elevated crude benchmarks, while amplifying cost pressures for transport and services. Near term, this reinforces inflation sensitivity and may keep energy-linked assets supported while weighing on consumer-facing and logistics-intensive sectors.
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UK diesel prices have hit a record high at about £2 a litre after rising more than 40% since the end of February. Over the same period, petrol has climbed nearly 34% to 174.8p per litre, as supply risks have been driven by seven months of conflict involving the US and Israel with Iran. Transport operators such as Berry's Coaches say operating costs have surged, with the company reporting a £750,000 rise in fuel-related costs this year.
