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Londra Gazete

Petrol prices hit new high amid Ukraine tensions

Petrol prices hit new high amid Ukraine tensions
News In English
23.02.2022
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Average UK petrol and diesel prices have hit new highs as the Ukraine crisis continues to affect oil prices, the RAC has said.

On Wednesday, petrol prices rose to 149.30p per litre amid warnings it could soon pass £1.50.

Oil prices jumped after Russia ordered troops into two Ukrainian regions this week to “maintain peace”.

Wholesale gas prices also continue to climb, threatening to further push up heating bills.

Russia is the world’s second-largest oil exporter after Saudi Arabia and the top producer of natural gas globally.

While the UK gets little of its oil and gas from Russia directly, there are concerns sanctions could constrict supplies and drive up wholesale prices worldwide.

UK consumers are already paying a high price for energy and fuel, with demand surging following the easing of Covid restrictions.

The price of Brent crude oil, an international benchmark, hit a seven-year high of more than $99 (£73) on Tuesday before falling back on Wednesday.

However, fuel pump prices lag behind oil prices and the RAC has warned petrol could go higher than £1.50 a litre in the coming days.

Diesel has also been rising, hitting 152.68p a litre on Wednesday.

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