Northern Ireland Diesel Hits £2 a Litre, Because Apparently the Middle East Has Opinions About Oil
Northern Ireland's diesel hits 193.3p a litre - not quite the 2022 record, but give it time. Some stations are already at £2, and Trump is considering hoarding US exports.
Diesel prices in Northern Ireland have climbed to their highest level since the Iran conflict began, according to Consumer Council data. Over the past week, the average price of a litre of diesel was 193.3p - which is below the record average of 197.2p set in the summer of 2022 after Russia's full-scale invasion of Ukraine, but still comfortably in the "please stop" territory. Some filling stations, never ones to miss a pricing opportunity, have already been charging £2 a litre.
For context, before the US-Israeli attack on Iran in February, a litre of diesel cost about 132p. That's a jump of over 60p, or roughly the cost of a disappointing meal deal, per litre.
Data from the UK's Department for Transport shows that motorists in Northern Ireland are more reliant on diesel than other parts of the UK. Just over half of 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 - but the existing diesel fleet isn't going anywhere, and neither are the prices.
The price of diesel hit a record high in the UK this week as a result of the continuing fallout from the Iran war. The conflict in the Middle East has severely disrupted the production and transportation of wholesale oil across the region, which has caused the price of fuels made from oil to surge. In news that surprises absolutely no one who has ever glanced at a supply chain diagram.
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 - because nothing says "global cooperation" like keeping your own diesel at home.
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 per day. Over half of the UK's diesel is imported, with 31% of those imports coming from the US. So a US export ban would be a bit like a friend promising to help you move, then locking the door and watching through the window.
Meanwhile, drivers are feeling the pinch. One carer told the BBC they can't afford to go to work because of fuel prices - a sentence that should probably be framed and hung in every government office. Others have switched to hybrid cars, which is either a sensible adaptation or a grim indictment of the status quo, depending on how cynical you're feeling today.
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