Petrol prices are expected to rise and hit the 'grim milestone' of £1.50 per litre after Russian troops entered eastern Ukraine.
Oil prices increased on Tuesday (February 22) to their highest level since September 2014 as concerns mounted 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. READ MORE Fuel prices are already at record highs.
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.
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