UK Diesel Hits £2 a Litre in Southern England as Record March Fuel Rise Squeezes Drivers
Diesel jumped close to £2 per litre at select forecourts in southern England this week, with March logging the steepest monthly surge on record for UK pump prices. The climb compounds an ongoing fuel shock, fueled by tensions in the Middle East and a spike in crude. Timing here is critical. The squeeze is hitting right ahead of the Easter bank holiday, and on Thursday, a Bank of England survey reported that British companies expect to hike prices at a quicker pace over the next year. Elliott Jordan-Doak, senior economist at Pantheon Macroeconomics, warned that “second-round effects” will keep haunting rate-setters.