The average price of a liter of diesel is just over 80 1.80 a liter – and could rise further as EU sanctions on Russian oil continue.
The RAC reports that the price per liter in the UK has surpassed the previous record of 7 1.79, which was set after the Moscow invasion of Ukraine in March.
The amount paid to the forecourt declined in the interim but has risen again in recent weeks as attempts to hurt the Kremlin economically have already led to higher fuel prices. The European Union’s complete ban on Russian fuel imports could push it even further.
High diesel prices are a warning sign for the economy because fuel is commonly used in business-owned vans and lorries, which increases their costs.
RAC says petrol prices are also rising – an average of 166.65p, up 3p from the beginning of the month, a penny shy of the record high set in March.
Proponents of her case have been working to make the actual transcript of this statement available online.
Simon Williams, RAC’s energy spokesman, said: “Unfortunately, drivers of diesel vehicles have to prepare themselves for more pain at the pump. If Mr. Sunak had reduced VAT by 15% as we have asked him to do instead of reducing the tariff by 5p, the drivers of diesel vehicles would have been about 2p per liter or £ 1 per full tank.
“As it is, drivers are still paying 27p VAT on petrol and 29p VAT on diesel, the same as before the spring statement.”
Williams added: “Although wholesale prices have fallen in recent days, this could be temporary, especially if the EU agrees to ban Russian oil imports.”
EU diplomats are reportedly still trying to agree on a phased embargo on Russian oil this month.
The Office for National Statistics said last week that pump prices were contributing to the crisis in life as it revealed that the UK economy had shrunk 0.1% in March.