UK Fuel Prices Surge: Diesel Hit Hardest

0:00On March 23rd, fuel prices in the United Kingdom are climbing fast, with diesel taking the biggest hit from sharp wholesale increases. The Petrol Retailers Association says supplies remain stable with no shortages in sight, but pump prices will keep rising as costs filter through to drivers. Last week, diesel wholesale prices jump by an average of $258 per ton, while petrol rose by just $2. Diesel faces more pressure, because the UK imports most of it, and global demand is surging due to tensions in the Middle East. Drivers are feeling the pinch, with petrol of 12 pence per liter and diesel 24 pence since late February. Groups like the RAC predict averages could hit 150 pence for unleaded and 180 pence for diesel by Easter, or even sooner. If retailers pass on costs quickly, the industry warns that margins are tight, and operators can't sell at a loss. The government is keeping a close eye on four-core profits while looking at ways to ease

1:00the burden, like tweaking fuel taxes that make up about half. The pump price. Meanwhile, broader energy costs are soaring too, with Brent Crude Oil up 60% this month, and natural gas over 100%. Ministers promise to support households and businesses as the situation unfolds.