The price of diesel for consumers in the UK has reached a new record high, it was confirmed on Friday.
The average price across the UK is now 143.05p, above the previous high of 143.04p seen in May 2011 when prices had increased due to instability across the Middle East.
RMI (Retail Motor Industry) Petrol chairman Brian Madderson was concerned the price of fuel could put the lives of hundreds of fuel retailers at risk as consumers continue to try and limit diesel consumption.
Food prices are also likely to be hit as diesel surcharges are added to orders, to allow hauliers to stop already-low margins from decreasing yet further. Mr Madderson said of the news, "Costs will rise faster than most people expect and stoke inflation again."
And it was also predicted that prices could continue to rise up until Easter as a 'perfect storm' brews.
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