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Explained in plain English

Global energy markets

The price of oil and refined products like diesel is set on global markets, influenced by supply and demand worldwide. Geopolitical events, production cuts, and even political statements from major energy producers or consumers can cause significant price fluctuations that affect countries far from the source.

Stories that explain this

Your diesel pump price could hit £2 Benefit claimants can get £150 off winter energy bills

Related explainers

What's the UK's energy mix? Am I eligible for help? Why are bills so high? Why diesel prices matter Impact on UK businesses How does policy help? UK's fuel supply chain US election influence

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