Price of diesel on UK forecourts reaches all-time high

AI desk brief

UK diesel prices hit a record 199.18p/litre on the back of Middle East tensions, with the RAC saying a typical family car now costs almost £110 to fill, up £31 since the US-Iran conflict began. Petrol has also climbed to 174.13p/litre, and the article highlights the risk of further upside if shipping through the Strait of Hormuz remains threatened or if policy moves disrupt fuel flows.

The key precious-metals takeaway is the inflationary impulse: higher fuel costs are expected to feed through freight, goods prices and broader UK consumer inflation, which can keep real rates under pressure and support safe-haven demand for gold if the geopolitical backdrop worsens.