According to the RAC’s Fuel Watch, the price of unleaded petrol hit 151.25 pence per litre yesterday and diesel rose to 154.74 pence per litre – “both record highs”
Russia is the world’s second largest exporter of crude oil, which has prompted concerns that sanctions could restrict supplies and further drive up global prices.
With average fuel prices at UK forecourts at record highs, there are fears motorists could be hit even harder in the pocket as retailers pass on the latest rises in wholesale costs.
Fuel prices vary across the UK and some forecourts are already charging considerably more than the average level.
A year ago, the average petrol price stood at 122.50p a litre, while diesel was at 125.99p.
If petrol reaches the 160p threshold, it will take the cost of filling up a typical family car with a 55-litre tank to a whopping £88.
