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UK diesel prices highest in Europe, says RAC

Published 29/05/2024, 09:17
© Reuters UK diesel prices highest in Europe, says RAC

Proactive Investors - British drivers are paying the most for diesel out of any European country, new data from the RAC found.

On average, a litre of fuel in the UK costs 155p, 5p higher than Ireland and Belgium, the two countries with the second most expensive diesel in the continent.

Luckily for petrol drivers, unleaded fuel is slightly cheaper when compared to the rest of Europe, with a litre costing around 149p, making it the 11th most expensive country.

RAC, the breakdown and roadside assistance company, said there is “no good reason” for diesel prices to be so high or why petrol stations can’t cut them.

Fuel retailers have been found to operate with margins much higher than the long-term mean, the RAC added, pointing to a lack of competition as a key reason.

"It's important to note that in Northern Ireland, where there is greater competition for fuels in the absence of supermarket dominance, the average price of diesel is just 144.9p - 10p less than the UK average, and petrol is 6p cheaper at 142.4p," the automotive group said.

Back in 2022, the government introduced a cut to the 5p tax paid on fuels due to the war in Ukraine sending prices higher.

However, the RAC found that European countries which kept the fuel duty are still paying less overall to fill up.

Earlier this month, research by the company found petrol and diesel rose by 10p a litre in 2024, adding £5.50 to the cost of filling up a family car.

The lowest prices for both fuels in 2024 were recorded on 16 January at 139.7p and 147.6p respectively and since then the cost has risen to 149.95p and 157.7p on average.

Read more on Proactive Investors UK

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