Diesel prices close to £1 a litre

Prices differ across the country

Diesel prices have risen to a record high of just below £1 a litre as the cost of crude oil continues to spiral.According to the AA and industry researchers Catalyst, a litre of diesel now costs as much as 99.95p.

With crude oil prices hitting highs above $88 a barrel, experts believe it is only a matter of time before diesel prices breach the £1 mark.

The average price of a litre of unleaded petrol is now 97.76p, just below its record high of 98.54p.

‘Miserable autumn’

The previous peak for diesel was in August 2006.

Petrol retailers have warned of escalating prices as wholesale crude prices soar and the impact of rising fuel duty makes itself felt.

Duty rose by 2p a litre at the start of the month, adding pressure to consumers and businesses already facing high fuel and energy bills.

The cost of petrol continues to differ significantly across the UK, with Londoners paying an average of 98.2p a litre, 1.7p more than in drivers in Scotland.

The AA said people were paying 11.13p per litre more for petrol than a year ago, the equivalent to daily expenditure of £7.7m.

“Diesel prices have been growing faster than petrol due to impending seasonal demand for heating oil in the US,” said the AA’s head of public affairs, Paul Watters.

“This autumn is looking likely to be miserable one for all, with future oil prices still highly volatile.”