Price of diesel accelerates past record high

Simon Ward
by Lovemoney Staff Simon Ward on 22 February 2012  |  Comments 20 comments

Experts predict diesel and petrol prices will keep rising amid calls for Chancellor to scrap August fuel duty increase.

Price of diesel accelerates past record high

The price of diesel is accelerating past its record high, according to the latest figures from two fuel price indices.

Experian’s Catalist index says the average UK diesel price is now 143.58p a litre, as of Tuesday (21 February). Meanwhile, PetrolPrices.com says the average is 143.49p. Either way, it’s moving well above the previous record high of 143.04p recorded last May.

The price of a litre of unleaded petrol is also on the increase, with Experian Catalist saying it is now averaging 135.79p, while PetrolPrices.com records it as 135.93p. Petrol peaked at 137.43p last May.

There are huge regional variations within those averages, with motorists in Scotland paying 145.90p a litre for diesel, over 2p a litre more than in the south east of England.

However, Scottish motorists are paying an average of 135.44p per litre of unleaded petrol, nearly a penny less than in the south east.

The rising cost of crude oil, partly caused by turbulence in the Middle East and the possibility of Iran disrupting oil distribution, means more rises are likely. The increase in transportation costs will also almost certainly have an impact on food prices.

There have been calls for Chancellor George Osborne to scrap the 3p fuel duty increase planned for August in his Budget next month.

More: How to find the cheapest diesel and petrol prices | The best loyalty cards for drivers

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Comments (20)

  • FireBlade
    Love rating 25
    FireBlade said

    Well, this IS rip-off Britain, so what do we expect!! As mentioned before, diesel used to be cheaper than 2 and 4 star, but since diesel cars took off in the popularity stakes, the prices followed suit. I wouldn't be surprised that with the increasing popularity of, and ability to top 60-70mpg, petrol will soon overtake the cost of diesel again.

    As for the turbulent middle-east- when has that area NOT been turbulent??!! Yet more excuses to rip us off. That said, if it wasn't for the crippling fuel duty that our own beloved government shackles us to, the cost of filling up wouldn't be half as expensive- literally...

    Report on 24 February 2012  |  Love thisLove  0 loves
  • CuNNaXXa
    Love rating 410
    CuNNaXXa said

    Skintsod said

    Yes we pay a comparatively large amount for fuel. But then again, we pay nothing when we go to the doctor, or into hospital. In many countries health insurance premiums and co-payments take a large slice out of the income of ordinary families. And the prescription charge is actually a nominal amount compared to the actual cost for most common drugs. Swings and roundabouts.

    Actually, most of us pay our NI contributions, alongside our employer contributions, and that is on top of taxation, both income and spending. While we are not directly charged for health services, we still have to pay for them, otherwise how do nurses and doctors survive if we pay them nothing.

    Simply put, ALL public services are paid for by the taxpayer, from doctors and nurses, policemen and firemen, ambulance-men and traffic wardens, civic office clerks and anyone else who is paid for by the state rather than private enterprise.

    Don't ever think we get anything for free because we, as a nation, have to pay for everything, including MPs expenses, MPs second houses, MPs cars, MPs offspring working as £60,000 researchers, unless of course we are benefits claimants or MPs.

    (What is the difference between a benefits cheat and an MP? An MP can justify their theft by changing the law in their favour).

    Report on 25 February 2012  |  Love thisLove  0 loves

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