Diesel prices in the UK have reached a new record high of 199.18p per litre, surpassing the previous peak set in June 2022 after Russia's invasion of Ukraine, according to the RAC. The increase comes amid global supply disruptions caused by the conflict in Ukraine and renewed hostilities in the Middle East.

In Northern Ireland, the average petrol price is around 166p per litre and diesel is about 190p per litre, with some areas approaching 200p, according to the NI Consumer Council. Economy Minister Caoimhe Archibald has written to British Trade Minister Jonathan Reynolds urging immediate cuts to fuel duty and VAT on road fuels to ease pressure on households and businesses.

Minister Archibald said the price increases are intensifying financial strain, with hauliers, farmers, and other businesses reporting that higher transport costs are making operations unsustainable. She called on the British Government to use fiscal levers to help people struggling now.

Home heating oil costs have also climbed sharply in Northern Ireland, where almost two-thirds of homes rely on oil for heating. On 24 September, the average price for 500 litres was £561.83, according to the Consumer Council. Raymond Gormley, head of energy at the council, said prices are about 80% higher than before the war with Iran started, with 300 litres now costing £347 compared to £202 previously.

Rachel Jeffers, a childminder from Stewartstown, County Tyrone, said the rising cost of heating oil is a severe financial burden. She recently paid £560 for 500 litres, which did not fill her tank, and has had to reduce heating use. She is considering increasing fees for parents, though she feels guilty about the impact.

The Stormont Executive has opened a scheme offering £100 vouchers to eligible households for heating oil, with about 340,000 lower-income households expected to qualify. Applications are open until 31 March 2027, and as of midday on 23 September, 123,987 applications had been received.

The RAC attributes the record diesel price to reduced Russian diesel exports due to Ukrainian attacks on refineries and disruption to global oil supplies caused by Iran's blockade of the Strait of Hormuz. RAC head of policy Simon Williams said the cost of filling an average family car is now almost £110, up £31 since late February, and transport cost increases will likely be passed on to consumers.