The Price Of Diesel Has Reached A New Record High

The price of diesel in the UK has reached another record high, in spite of the action’s taken by the Chancellor…

Diesel Price Reaches Record High 

Despite action from the Chancellor, designed to tackle the rising price of fuel, the price of diesel has reached a new record high in the UK. The previous high of 179.90p, which was reached on March 23rd, has now been surpassed – the current price sits at 180.29p a litre. Things aren’t looking good for petrol, either. There are signs that prices for the fuel will soon reach, and potentially surpass, the previous record of 167.3p per litre (set on March 22nd).

The soaring prices are largely a product of Russia’s invasion of Ukraine. The Chancellor, Rishi Sunak, had hoped to address the rising costs by cutting the average price of a litre of fuel by 5p; an action that has now proven to be insufficient it controlling prices.

Given that the UK is currently in the midst of a cost of living crisis, the record high prices of fuel are bound to have a major impact on people’s livelihoods. Indeed, a recent survey found that eight in ten drivers have faced rising fuel costs – with three in ten stating that they may be, effectively, priced off of the road network.

‘Pain at the Pumps’ 

Simon Williams, the RAC’s fuel spokesman, isn’t particularly optimistic about the future of petrol and diesel prices. He explained, “unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps. Had Mr Sunak reduced VAT to 15% as we call on him to do instead of cutting duty by 5p, drivers of diesel vehicles would be around 2p a litre better off, or £1 for every full tank. As it is, drivers are still paying 27p VAT on petrol and 29p on diesel, which is just the same as before the Spring Statement”.

He continued, “the average price of petrol is also on the rise having gone up nearly 3p a litre since the start of the month to 166.65p which means it’s less than a penny away from the all-time high of 167.30p set on 22 March”.

A Quarter Of Drivers Claim To Be Struggling With Driving Costs –

One In Five Cars In The UK Has Covered 100k Miles Or More –

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