+923218400111
ROOM NO 214, 2ND FLOOR, LSE PLAZA, 19-KHYABAN-E-AIWAN-E-IQBAL, LAHORE
accounts@bspl.com.pk

Are you ready to change the game? Find Out More

UK diesel price hits all-time high amid Middle East supply crunch, RAC warns
Home » BUISNESS  »  UK diesel price hits all-time high amid Middle East supply crunch, RAC warns

UK diesel price hits all-time high amid Middle East supply crunch, RAC warns
UK diesel price hits all-time high amid Middle East supply crunch, RAC warns

The average price of diesel in the UK has surged to a record-breaking high of 199.18p per litre, eclipsing previous peaks set in 2022.

According to the RAC, ongoing Middle East conflicts and global refining constraints are heavily driving up costs for motorists and freight operators alike.

As reported, the sharp escalation is driven primarily by intense geopolitical conflicts and tightening global oil supplies.

Analysts note that ongoing military escalations in the Middle East and supply disruptions affecting major refining hubs have sent crude benchmarks soaring.

Automotive and logistics organizations have warned that the fallout extends far beyond individual motorists. Because commercial freight, delivery vans, and heavy goods vehicles rely heavily on diesel, the soaring fuel costs are expected to cascade through supply chains, adding inflationary pressure to consumer goods and retail prices nationwide.

Experts caution that unless global oil prices experience a sustained downturn over multiple weeks, pump prices will remain stubbornly near the 200p threshold.

Fuel prices are one of the key drivers of UK inflation, which hit a five-month high in August, adding pressure on consumers who are grappling with a protracted cost-of-living crisis.

The price high on Monday eclipsed the previous highest price of 199.09 pence in June 2022, during the acute energy market shock in the aftermath of Russia's full-scale invasion of Ukraine.

"Only a sustained lower oil price over several weeks, not days — will lead to cheaper prices at the pumps ... the government could take steps to ease the burden on drivers by lowering fuel duty further or reducing VAT," Williams said.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Public Notice

Beware of Fraudulent Schemes Misusing the Name of Bridge Securities Pvt. Ltd

Fraudulent individuals and entities may misuse the identity of Bridge Securities Pvt. Ltd or falsely impersonate its directors or executives to deceive the public through unauthorized communication channels, fake profiles, and misleading information.

We strongly advise our clients and the general public to exercise caution and remain vigilant against such scams.

Please note:

  • Bridge Securities Pvt. Ltd has no affiliation with any unofficial pages, profiles, apps, or WhatsApp numbers.
  • We never request OTPs, personal information, funds, or investments through unofficial platforms.
  • All communication from Bridge Securities Pvt. Ltd is conducted only through our official phone numbers, website, email, social media handles through official representatives.

For your safety:

  • Always verify the authenticity of any communication before engaging.
  • Make sure that you are dealing with licensed entities and registered professionals by conducting research from the PSX and SECP websites.
  • Regularly visit SECP, PSX, CDC, and NCCPL websites for authentic updates.
  • Transact only through official banking channels linked to licensed brokers.
  • In case of any ambiguity it is recommended to contact and verify the information through our official representatives.

Official Channels:

  • Website: www.bspl.com.pk
  • Email: accounts@bspl.com.pk
  • Social Media: Not Available
  • Helpline: 0321-8400111

Shareholder Agahi – Your Gateway to Shareholder Insights

Pakistan’s first comprehensive platform, developed by PICG and CDC, dedicated to enhancing shareholder awareness and empowerment.

Discover Shareholder Agahi- Your one-stop hub for real-time shareholder updates, rights, and governance insights. Empower yourself with accurate information.Explore the portal: https://www.shareholderagahi.com/ Watch the tutorial (Urdu): https://www.youtube.com/watch?v=O7iCRiKJ37A

This will close in 20 seconds