UK diesel prices fell sharply in June, the latest sign the inflation shock tied to the Iran war is rapidly fading, the RAC said. Average diesel dropped nearly 17p to 167p per litre, the biggest single-month fall since records began in 2000. Petrol fell 8p to 151p per litre, the seventh-largest monthly decline on record. The fuel price falls are likely to offset some of the inflationary impact from a 13% household energy bill rise that took effect yesterday. Markets now expect the UK inflation pe

UK diesel prices fell sharply in June, the latest sign the inflation shock tied to the Iran war is rapidly fading, the RAC said. Average diesel dropped nearly 17p to 167p per litre, the biggest single-month fall since records began in 2000. Petrol fell 8p to 151p per litre, the seventh-largest monthly decline on record. The fuel price falls are likely to offset some of the inflationary impact from a 13% household energy bill rise that took effect yesterday. Markets now expect the UK inflation peak to be well below the BoE's April projection; traders have sharply reduced rate-hike bets and no longer fully price a hike this year.