Record gap between petrol and diesel prices

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Tea

The gap between petrol and diesel prices has reached a record high as Russia cuts gas supplies.

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An analysis of government data by the PA news agency and the RAC Foundation found that the average price of a liter of diesel is about 17p more expensive than petrol.

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Steve Gooding, director of the RAC Foundation, said the difference is mainly due to an increase in the amount of diesel used for heating and electricity generation in continental Europe as Russia cut gas exports.

There are a lot of people chasing short stocks

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Data from the Department for Business, Energy and Industrial Strategy showed that on Monday the average pump price for a liter of fuel stood at 180.3p for diesel and 163.8p for petrol.

This means filling a typical 55-litre family diesel car is about £9 more expensive than the petrol model.

The difference in prices is the largest on record as of June 2003.

Since then diesel costs on average about 5p per liter more than petrol.

Mr Gooding said: “The major difference is the decline in global demand for gasoline after the end of the so-called driving season in the United States.

“But more important is the growing global demand for diesel that is used not only as a road fuel, but especially in continental Europe, as a method of heating and electricity generation, and as an alternative to gas. Is.

“Given that the war in Ukraine has resulted in supply cuts from Russia, it means many people are chasing short stocks.

“The bad news for UK diesel drivers – and the diesel-truck-dependent UK freight industry – is that, with winter just beginning and the war in Ukraine showing no signs of ending, diesel and petrol pumps The large gap between the prices of oil is likely to continue for several months to come, even if the price of oil falls.”

Credit: www.standard.co.uk /

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