UK diesel price hits record high of £2 a litre

AI desk brief

UK diesel prices have hit a record £2/litre, with the RAC saying the average forecourt price reached 200.01p/litre and a full family-car fill-up now costs about £110, nearly £32 more than before the Iran war disrupted fuel flows. The article links the spike to supply losses from Middle East and Russia refineries, plus tighter diesel availability through Hormuz, keeping upward pressure on UK and European inflation.

For metals, the key transmission is higher energy-driven inflation and elevated geopolitical risk, both supportive for gold on a macro basis even though the piece is about fuels rather than bullion directly.