The latest Government figures show average diesel at 195.53p per litre in the week beginning 21 September, up from 190.72p a week earlier. That represents a rise of 4.81p/litre in just seven days.
Prices have been climbing particularly quickly since the end of August. Diesel averaged 183.49p/litre in the week beginning 31 August, meaning the price has risen by 12.04p/litre in three weeks. In mid-July, it stood at just 164.52p.
For a haulage business buying 1,000 litres of diesel a week, the latest weekly increase alone translates into around £48 in additional fuel costs. Compared with the end of August, the same quantity now costs roughly £120 more.
The latest average is also approaching the levels last seen during the 2022 fuel-price crisis. Government data show diesel peaked at 199.22p/litre in the week beginning 4 July 2022. The current price is just 3.69p below that record and is the highest weekly figure since July that year.
International diesel market remains tight
The increase comes amid renewed pressure on international oil and diesel markets. The International Road Transport Union (IRU) said Brent crude futures moved back above $100 a barrel on 9 September, as attacks on shipping and disruption to Middle Eastern oil infrastructure increased concerns over supplies.
Traffic through the Strait of Hormuz remains heavily constrained, while problems affecting Saudi Arabia’s East-West pipeline have further limited export options. IRU also cited cancelled or delayed Saudi crude shipments to European refiners.
The organisation warned that diesel markets are likely to remain undersupplied in the coming months unless demand falls rapidly. It said a sustained fall in diesel prices for transport operators was therefore “highly unlikely in the short term”.
A separate analysis published by Transport & Environment on Wednesday illustrates the wider European impact. The campaign group estimates that geopolitical disruption is currently costing Europe an additional €203 million a day in diesel costs, while trucks are paying around €236 more per week compared with its reference scenario.
T&E attributes part of the increase to a widening gap between already high crude-oil prices and the price of refined diesel, as tight supplies of refined products push up margins.
