UK diesel price hits all-time high

The UK's average diesel price has hit an all-time high, reaching 199. 18p per litre, according to the RAC motoring body.

Analysts say every $10 (£7. 44) per barrel increase in the oil price pushes up pump prices by roughly 7p a litre.

The previous record was 199. 09p, recorded on 25 June 2022, following Russia's full-scale invasion of Ukraine earlier that year.

Motor fuel prices fell back when the US and Iran agreed in June to a framework deal to end the fighting, but rose again as tensions resurfaced.

The price of petrol has hit an average 174. 13p a litre, which is the highest in more than four years but lower than its peak of 191. 5p during the summer of 2022.

Experts warn that global oil prices could remain above $100 for the rest of the year due to ongoing tensions and limited supply.

No evidence of widespread fuel price-gouging has been reported, with watchdogs saying drivers can compare fuel prices at different petrol stations.

Analysts say every $10 (£7.44) per barrel increase in the oil price will push up pump prices by roughly 7p a litre, and that the UK government's limited leverage on ending the US/Iran war means it has