Average petrol price hits new record high of more than £1.51 per litrefuel
manchestereveningnews.co.ukThe average price of petrol has hit a new record high as the cost of oil soars due to Russia’s invasion of Ukraine. Figures from data firm Experian Catalist show the average cost of a litre of petrol at UK forecourts was 151.67p on Tuesday.
This is up from 151.16p on Monday and the highest ever on record. The average cost of a litre of diesel is also at a record high, reaching 155.23p. READ MORE: The 15 cheapest petrol stations in and around Manchester Simon Williams, spokesperson for RAC fuel, warned prices could increase further as Russia's attack on Ukraine continues.
He said: "The sudden 10 US dollars (£7.50) jump in the oil price on Tuesday to 113 US dollars (£85) a barrel is likely to take the average price of petrol towards 155p a litre and diesel to 160p, particularly as it’s looking like this price isn’t just a market blip caused by the US and allies deciding to dip into the strategic oil reserve. "If oil does stay at this level, the journey to an average unleaded price of 155p may be far too quick." Russia is the second largest exporter of oil after Saudi Arabia.
Mr Williams had previously described the price in fuel climbing to 150p as a 'truly a grim milestone that no one ever wanted to see'.
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