Asda hikes diesel prices faster than rivals, adding 59.3p per litre since Feb 27
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UK diesel prices are surging amid Middle East conflict risks and Strait of Hormuz disruption fears, reinforcing the tight supply narrative that has already lifted Brent sharply since February. Proposed US strategic reserve releases (40m barrels) could temper near-term pressures, but the backdrop highlights elevated geopolitical risk premia in refined products and crude benchmarks. Rising fuel costs also raise political sensitivity around fuel duty and potential demand-side responses.
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The Iran war has sent diesel prices sharply higher, with UK supermarket chain Asda among the fastest to raise pump prices. Average diesel prices are up 41% from February, and the RAC has warned prices will breach £2 per litre within days. Brent crude has risen from $72.87 a barrel in February to $103.50 on Tuesday. The White House has proposed lending energy companies 40 million barrels of oil from its strategic reserves to help curb fuel costs.
