FUEL prices have risen to a record £2.18 per liter in some parts of the UK today as the crisis in Ukraine has hit motorists hard.
And it was a petrol station in London that was found to be raising prices per liter of tear as fuel hit a record high.
No other precedent has seen fuel floating at this price – but other parts of the UK have seen gasoline prices and diesel in recent days.
That’s because the average price of unleaded petrol hit 161.06p a liter on Thursday – having risen 8p in a week, according to the RAC.
Meanwhile, diesel spiked to £1.70 a litre.
The RAC warns this could soar higher as a result of Russia’s invasion of Ukraine.
The huge gas bill comes when a Leicestershire motorist has been left behind after he paid more than advertised price for his fuel.
David Lord, from Hinkley, filled up at Morrisons in Cloverfield on Wednesday – paying £68.60 for 43.5 litres of diesel, at £1,577 per litre.
But to his horror, the totem pole sign at the entrance to the foreground showed a cheaper price of £1,557 a litre.
The frustrated driver took to Facebook, which warned others: “Be careful, don’t be fooled by the price they’re advertising as they will charge you extra at the time of day.”
Despite rising fuel costs, the RAC said Friday that wholesale costs have fallen for two consecutive days.
But they warn pump prices will remain high for some time.
The driving group added that the average cost of gas for a car today is £88.
And they called on the government to reduce VAT on fuel, which already adds 28p to the cost of petrol or diesel per litre.
Despite the huge cost of gasoline, there is no need to panic when buying fuel.
Drivers can save gas by shopping and driving around.
Many of the cheapest prices come from supermarkets such as brands like Asda, Sainsbury’s and Morrison’s to attract drivers to fill up as they shop.
For example, earlier this month Morrisons offered customers a discount of 7p per liter of fuel if they spent £40 in store.
Fuel prices have spiked amid fears of a global economic shock from Russia’s invasion of Ukraine.
The price of oil is mainly determined by the price of crude oil and the dollar exchange rate, as agreements are made in dollars.
Russia is the third largest oil exporter, but Western countries such as the US and Canada have stopped importing oil from the country in response to Ukraine.
It means that demand for oil from other producers has increased, leading to an increase in prices.
Rising gas prices add to the pressure millions of households are already facing from rising energy bills.
While the cost of living is rising, it is also pushing up food and travel costs, leading to difficult decisions for millions of Britons.
https://www.thesun.ie/motors/8491637/fuel-prices-hit-2-18per-litre-uk/ Fuel prices hit shocking £2.18 per liter in parts of UK as drivers hit by Ukraine crisis