Diesel still costing close to a ’dismal’ £2 a litre despite oil price falls

AI desk brief

UK diesel averaged 197p a litre despite falling oil prices, while petrol eased to 168p from an early-October peak of 174.7p, according to the AA. Fed governor Christopher Waller said insurance and ship-to-ship transfers linked to Iranian attack risks were reportedly adding $20–$30 a barrel to oil prices; refining constraints could also keep US diesel elevated. Persistent energy costs could support inflation-related gold demand, but any tighter monetary-policy response could counter that support. The AA said falling wholesale costs could allow another 10p petrol reduction, indicating uneven rather than uniform fuel-price persistence.