Fuel prices surge at record pace as diesel gap widens to nearly 30p

Fuel costs jumped sharply in March, with new data from the RAC showing the fastest monthly rise ever recorded.

Diesel saw the steepest increase, climbing 40p per litre to 182.77p, while petrol rose 20p to 152.83p. Both figures break previous monthly records, with diesel’s rise almost double the previous peak seen in 2022.

The gap between the two fuels has also stretched significantly. Diesel is now almost 30p per litre more expensive than petrol, compared with a typical difference of around 5p historically. For fleets running diesel vans, that difference is feeding directly into operating costs.

The increases have been linked to ongoing disruption in global energy markets, with diesel particularly exposed due to the UK’s reliance on imports. Since late February, diesel prices have risen by around 27%, compared with 14% for petrol.

Filling a typical petrol car now costs more than £10 extra than a month ago, while diesel drivers are paying more than £20 extra per tank.

Industry bodies including the Road Haulage Association are now calling for the Government to scrap planned fuel duty increases later this year, warning that rising costs will be passed through supply chains.

At the same time, tools such as the Government’s Fuel Finder scheme are being promoted to help drivers compare local prices and avoid the most expensive forecourts.

With volatility expected to continue, many fleets are already reassessing running costs, particularly where higher fuel prices begin to close the gap with electric alternatives.

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