According to research, figures from data firm Experian Catalist show the average price of a litre of petrol at UK forecourts is £1.49, while diesel costs £1.53.
Drivers
and car owners are being warned to
expect petrol prices will hit the “grim milestone” of £1.50 per litre after
Russian troops entered eastern Ukraine.
Oil prices
increased on Tuesday to their highest level since September 2014 due to
concerns over the reliability of supplies, with Brent crude exceeding 99 US
dollars a barrel.
This is
likely to lead to an increase in fuel prices as retailers pass on the rise in
wholesale costs.
Fuel
prices are already at record highs.
RAC fuel
spokesman Simon Williams said: “Russia’s decision to invade Ukraine is already
causing oil prices to rise and will undoubtedly send fuel prices inexorably
higher towards the grim milestone of £1.50 a litre.
The price
of oil is likely to go above 100 US dollars and stay there on the back of
traders fearing future disruptions in supply.
“This
spells bad news for drivers in the UK struggling to afford to put fuel in their
cars.
“With
retailers quick to pass on any wholesale price rises they experience, we could
sadly see the average price of unleaded hit £1.50 in the next few days and
diesel approaching £1.54.”
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