This is a subscriber-only article
Diesel prices have increased by 3p to 4p/l in response to a rise in crude oil prices.
Attacks on oil tankers navigating the Red Sea have spooked oil markets, causing prices to rise from US $70 per barrel at the beginning of January, to settle around $77 in recent days.
That rise is being reflected in price quotes of 76p to 77p/l, excluding VAT, for a delivery of 2,250 litres of red diesel this week. Diesel had finished in December around the 72p to 73p/l mark. Currently, red diesel prices are running around 10p/l below the equivalent value recorded in late January 2023.
DERV
Quotes for DERV have also been hit with a price hike this week, although those increases have not been applied evenly, so farmers are advised to price around.
Quotes range from lows of 119p, rising to 125p/l for a delivery of 1,000 litres mid-week, up from 11p/l late December, but considerably lower than the 140p/l prices during the same month last year.
SHARING OPTIONS: