Given recent trends it was only a matter of when, not if, diesel would pass the £2 a litre mark, and that threshold has now been passed, with the average price for the fuel standing at 200.1ppl.
The unwelcome landmark comes in light of supply constraints caused by the continued conflict in the Middle East, and warnings from the US that President Trump is considering a ban on diesel exports to reduce domestic retail prices to boost his chances in the midterm elections.
While the UK refines a surplus of unleaded we are a net importer of diesel, with 30% of imports coming from the United States after the Ukrainian conflict saw ministers begin to phase out Russian diesel as part of a series of trade sanctions.
Adding to national supply woes is the 10-week closure of the Fawley Refinery in Hampshire, which is owned by Esso and is undergoing planned maintenance, leaving just three UK refining facilities in operation.
PetrolPrices, which determined the 200.1p diesel average from 8,098 forecourts after filtering out closed sites and other outliers, says 4,934 petrol stations are selling diesel at or above £2 a litre.
James Hitchman, director at PetrolPrices comments: “With prices already at record levels, the government should review the planned increases in fuel duty. Adding further taxation to the cost of filling up would put additional pressure on households, motorists and businesses at a time when fuel costs are already placing a significant burden on the economy.”
