UK diesel prices hit record high at 119.18p a litre; housebuilder stocks surge on new homes scheme – business live

UK diesel prices have reached a record high of 119.18p per litre, surpassing the previous record set in June 2022. This significant increase in fuel costs will likely have a ripple effect on the economy, as higher prices at the pump can lead to increased transportation costs for businesses and households. For the UK economy, this could mean higher inflation rates and reduced consumer spending power.

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The new homes scheme is likely to boost demand for housing, benefiting housebuilder stocks. Higher diesel prices may increase construction costs, but the overall impact on housebuilders is positive due to the new scheme.

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