Diesel in the UK has reached £2 a litre for the first time, the RAC says, according to BBC reporting. The record pump price comes as Europe faces pressure to release diesel reserves, with BBC reporting that US President Donald Trump has threatened an export ban.
In Northern Ireland, diesel prices are at their highest level since the war with Iran began, the BBC also reports. The squeeze on supply has been sharpened by the shutdown of the UK's largest refinery, which is closed for ten weeks, according to The Telegraph.
The combination of a major domestic refinery going offline and the prospect of restricted US exports has left European buyers competing for tighter supplies. The Guardian reported the £2-a-litre milestone alongside the BBC, which also carried the RAC's confirmation of the figure.
The pressure on Europe to draw down its diesel reserves reflects how quickly the market has tightened. With the UK's biggest refinery out of action for a ten-week stretch, according to The Telegraph, there is little immediate domestic relief in sight for drivers already paying record prices at the pump.
What to watch next: whether European governments agree to release emergency diesel stocks, and whether the threatened US export ban materialises — both of which will shape pump prices in the weeks ahead.
