- UK diesel prices have experienced their largest monthly fall in over 25 years.
- The average price of a litre of diesel dropped by more than 16p, from 183.8p to 167.1p, marking the most significant reduction since 2000.
- This decline was driven by a sharp fall in oil prices, which dipped below pre-crisis levels following a US-Iran peace deal.
- The agreement facilitated increased oil tanker traffic through the Strait of Hormuz, easing supply concerns.
- Despite the recent drops, fuel costs remain significantly higher than before the conflict, with the Iran oil crisis estimated to have cost UK drivers approximately £4 billion.
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