Diesel prices in NI at highest level since Iran war began

Diesel prices in Northern Ireland are at their highest level since the Iran conflict began, according to Consumer Council data.

It shows that over the past week the average price of a litre of diesel was 193.3p.

That is below the record average of 197.2p in the summer of 2022, following Russia's full-scale invasion of Ukraine, however some filling stations have already being charging £2 a litre.

Before the US-Israeli attack on Iran in February, a litre of diesel cost about 132p.

The Consumer Council data also suggests average petrol prices in Northern Ireland reached a post-Iran war high of 167.2p a litre over the past week.

That compares with about 124p a litre before the conflict began but well below the peak of almost 190p in the summer of 2022.

Data from the UK's Department for Transport shows that motorists in Northern Ireland are more reliant on diesel than those in other parts of the UK.

The figures suggest that just over half the private cars on Northern Ireland's roads use diesel, compared with a UK average of a third.

Sales of new diesel cars in Northern Ireland have fallen sharply in recent years in line with a trend across the UK.

Diesel prices in the UK hit a record high this week and are hovering at just under 200p a litre, according to motoring organisation the RAC.

The conflict in the Middle East has severely disrupted the production and transportation of wholesale oil across the region - that has caused the price of fuels made from oil to surge.

US President Donald Trump has said he may call on European countries to release some of their diesel reserves.

He is also considering a ban on US exports of the fuel as American drivers also face higher fuel costs.

Such a move could bring prices down significantly in the US.

But experts warn that it would put further pressure on diesel prices in other countries, unless they can access further supplies.

The US is a vital supplier of diesel to the world, exporting between 1.2 and 1.5 million barrels a day.

While UK refineries produce more than enough petrol to meet demand, they do not make enough diesel to meet the country's needs.

Over half of the UK's diesel is imported, with 31% of the imports coming from the US.