Warning over price rises as cost of diesel reaches new high

Diesel prices have reached a new high, leading to fears that businesses will further increase prices for consumers.

The AA said the average price of a litre of the fuel reached 151.21p on Thursday.

The previous record high was 151.10p on November 20.

The AA said the average price of a litre of the fuel reached 151.21p on Thursday.

Average petrol prices are 147.67p, which is within 0.05p of its most expensive level.

Many companies have already warned they will increase prices due to rising costs from raw materials, wages and energy bills.

AA fuel price spokesman Luke Bosdet said: “Businesses warned this week that they have no option but to pass on higher costs to consumers.

“The latest jump in the price of diesel, the workhorse fuel of business and haulage, ramps up that inflationary pressure even more.”