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Price quotes for red diesel have moved in favour of farmers over the past two weeks, falling from 3p to 5p/litre.
Red diesel was trading around the 90p/l mark in late September, but quotes for a delivery of 2,250 litres early this week ranged 84.5p to 87p/l, excluding VAT.
That brings diesel back into line with prices recorded in early September before a marked increase in oil prices caused an uplift in fuel prices. Price quotes for DERV are currently around 130p/l, ex VAT.
Crude oil prices dropped back to around $85 per barrel at the start of October, but the Israeli–Palestinian conflict has seen oil prices trended upwards again towards $90.
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