Diesel prices near record as Middle East conflict fuels driver concerns

According to the RAC, diesel prices are on the brink of a new record, while petrol has surged to its highest point in more than four years. The rise comes as global oil prices sit near $106 per barrel, a level that has persisted for weeks. Analysts warn that a potential United States ban on diesel exports could exacerbate the situation. In response, consumer groups are urging Chancellor John Healey to address fuel costs in the forthcoming Budget. The broader economic backdrop includes expectations of a significant increase in winter energy bills and the Bank of England’s likely move to raise interest rates.