Diesel drivers hit with 20p per mile charges in | Tech News

Diesel drivers are going through eyewatering 20p per mile charges this week following weeks and weeks of price will increase on the pumps.

Despite latest information that the price of oil has dropped all of a sudden folowing the announcement of a potential two-week ceasefire in Iran, the price just isn’t but coming down at petrol stations, with the average price of a litre of diesel now reaching a staggering 189.42p a litre right this moment (Wednesday April 8), in line with the RAC. In January, the Express reported that diesel price 142.96p per litre on average, which suggests the price has elevated by 47p per litre for the reason that begin of 2026.

According to motoring and insurance coverage web site Nimblefins, the average fuel financial system of UK diesel automobiles is 43mpg (although this may be decrease for city-only driving), which implies that, primarily based on the present price per litre, it presently prices 20p per mile to run a diesel car, not together with every other prices resembling upkeep. In January, on the outdated costs, this is able to have been simply 15p, 25% decrease.

The will increase comply with the launch of the UK’s new Fuel Finder final month, which permits drivers to see costs in any respect petrol stations close to them in actual time, and it’s hoped it can save drivers £40 a yr because of elevated competitors.

The watchdog stated the transfer would velocity up its review of fuel margins made by companies for the reason that battle started.

The CMA stated it can additionally take into account how rapidly fuel costs rise and fall as wholesale prices change and whether or not there’s proof of so-called “rocket and feather” pricing.

While it recognised that companies throughout the financial system had been prone to face vital pressures from rising power prices which might have an effect on costs, it stated fuel stations “should not exploit the situation”, including that any proof of this is able to be made clear in its replace on pricing, “which will be published as soon as possible”.

The CMA’s govt director for markets, Juliette Enser, beforehand stated: “Whilst price increases might be inevitable because of rising wholesale costs, it is important that those increases reflect genuine cost pressures.

“We will be closely scrutinising and reporting on what’s happening with fuel prices and call out any concerning behaviour.”

Petrol and diesel prices for motorists in the UK have risen sharply since Donald Trump launched his army motion.

On Wednesday, London’s FTSE 100 index of main corporations jumped by as a lot as 2.6% at first of trading on the back of the ceasefire announcement.

The price of benchmark Brent crude oil slid by 14.3% to 93.6 US {dollars} (£69.78) a barrel, though this was nonetheless nicely above the price of round 70 {dollars} at first of the battle.

Mr Trump had warned on Tuesday that “a whole civilisation will die” until Tehran met his calls for.

But much less than two hours earlier than his deadline handed for Iran to agree a deal, the US president stated he was suspending his menace to widen the army offensive to energy plants and bridges, subject to the Strait of Hormuz reopening.

Sir Keir stated: “I welcome the ceasefire agreement reached overnight, which will bring a moment of relief to the region and the world.

“Together with our partners we must do all we can to support and sustain this ceasefire, turn it into a lasting agreement and reopen the Strait of Hormuz.”