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Diesel prices rise in 2012

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It has been revealed the price of diesel in the UK has reached a record high of 143.05p a litre since May last year when it peaked at 143.04p a litre.

Research carried out by the AA found the increase continued from July 2011 when prices were at 137.50p a litre.

Two years ago the average price of diesel cost 113.62p a litre demonstrating how much the cost of fuel has increased in a short space of time

The Society of Motor Manufacturers and Traders recorded in 2011 that 981,594 diesel cars were sold compared to petrol models which stood at 934,203. This was the first time diesel models outsold petrol models.

Diesel vehicles are known to be economically better if more than 15,000 miles are covered in a year and now motorists are now taking into account there is an 8p per litre difference between petrol and diesel. 

Businesses such as haulage firms that use diesel vehicles will see an impact of the cost of fuel and will eventually be forced to pass the cost onto the customer via a diesel surcharge to try to stop businesses from failing.

A commercial van with an 80 litre fuel tank would currently cost £114.44 to fill up compared to February 2010 when it cost £90.90. The results indicate a substantial increase for businesses that cover thousands of miles each day.

AA President Edmund King spoke of the recent increase of diesel costs saying: “A stronger pound has staved off this moment for longer than might have been expected, but diesel drivers across the country will have been watching in trepidation.

“They hoped that below-record prices would hold until the spring, when winter price pressures on diesel traditionally ease.”   

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By Amanda Bainbridge