(Bloomberg) --
U.K. diesel prices rose to a record, bringing further pain to drivers and businesses as soaring energy costs fan inflation.
The average diesel price climbed to 147.94 pence ($2.02) a liter on Sunday, driven by a surge in crude and biodiesel costs, automotive services group RAC said in a statement. That's an increase of 30 pence in a year, and surpasses the previous high in April 2012.
Oil prices have more than doubled over the past year as the global economy emerges from the pandemic, boosting demand. U.K. diesel prices are also affected by the cost of biodiesel, as it makes up around 10% of the fuel.
“The price of biodiesel is now 2 1/2 times what it was 12 months ago,” RAC fuel spokesman Simon Williams said.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
