Largest-ever rise in average daily diesel prices recorded

Fuel prices continue to soar on the back of the Russian invasion of the Ukraine, hitting drivers and fleets.

The diesel daily increase was the largest on record since 2000

Figures from the RAC show that diesel jumped a huge 3p a litre in a single day to 165.24p a litre yesterday (8 March) while petrol went up 2p to 158.20p.

The diesel daily increase was the largest on record since 2000.

RAC fuel spokesman Simon Williams said: “The cost of a filling a 55-litre family car with petrol is now £87 – £7 more than it was at the start of the year. Diesel drivers are even worse off with a tank now costing more than £90 for the first time ever – £8 more than in early January.”

With wholesale fuel prices having already risen dramatically this week, the RAC said more pump price increases in the coming days are inevitable.

Petrol is now certain to top an average of £1.60 a litre this week while diesel will progress very quickly towards £1.70.

The RAC is continuing to continue to call on the Chancellor to help drivers by temporarily cutting VAT to at least 15%.

Simon Williams added: “As it stands 26p a litre of what drivers are paying on the forecourt is attributable to VAT and that comes on top of 58p a litre in fuel duty. This tax on a tax is causing unbelievable financial pain to drivers which is why we believe Mr Sunak holds the key to easing the burden.”

Date Average UL Price Average Di Price Average UL Super Price
07/03/2022 156.37 162.28 167.75
08/03/2022 158.20 165.24 169.93

 

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for over 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.