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‘Terrifying milestone’ when petrol prices in the UK hit a record high

In September last year, the UK suffered a fuel crisis that saw long queues at petrol stations due to a flurry of panic-buying British drivers. Six months later, long lines at stations began to form again after gasoline prices hit record highs.

Russia’s invasion of Ukraine “raises concerns about gas shortages and rising prices”, Journal reported on Saturday. And yesterday, the outpost was “crashed by cars”, Daily mail more.

Britons have been warned that fuel and gas prices “will rise further” as the war in Ukraine continues, Mirror speak. This will further fuel a cost-of-living crisis that “is lurking”, and with gas supplies already limited, the war will “only make things worse”.

The UK gets only 3-5% of its gas and 6% of its crude oil from Russia. But with petrol price movements in the UK “primarily determined by crude oil prices”, it will remain affected by rising global wholesale prices, BBC speak.

A crisis ’caused by war’

According to RAC’s Fuel meterthe price of unleaded gasoline yesterday hit 151.25 pence per liter and diesel rose to 154.74 pence per liter – “both record highs”, Guardians speak. With inflationary At its fastest rate in 30 years, fuel price hikes will “add an extra burden to the UK public, who are already grappling with a cost of living crisis”.

RAC’s fuel department spokesman Simon Williams said the gas price hike was “really a grim milestone that no one wants to see”. This is “really going to hurt” the household budget.

Conservative MPs Tom Tugendhat warned last week that the UK cost of living crisis may be “motivated by war”. Tugendhat, Chairman of the Foreign Affairs Committee, told BBC Radio 4’s Today program that if Europe does not take a tough stance against Russia, petrol prices could soar more than £1.70 a litre. “The reality is if we let this stand, if we let this go, you could forget about petrol at £1.70 a litre, that’s where it’s headed now. It will be significantly higher.”

https://www.theweek.co.uk/news/transport/955919/grim-milestone-uk-petrol-prices-record-highs ‘Terrifying milestone’ when petrol prices in the UK hit a record high

Fry Electronics Team

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