Petrol prices in UK could rise to £2.40 a litre this year due to Russia's invasion of Ukraine
dailyrecord.co.ukPetrol prices in the UK could reach as high as £2.40 a litre this year due to Russia's invasion of Ukraine.Dr Amrita Sen, Director of Research at Energy Aspects, told MPs on the Treasury Committee at Westminster that oil prices will fluctuate throughout the year.
Vladimir Putin 's war in neighbouring Ukraine has led to a rise in the oil price due to a number of factors, including supply fears.
Figures from data firm Experian Catalist show the average cost of a litre of petrol at UK forecourts on Sunday was 163.5p, while diesel was 173.4p.
A month ago, pump prices were 148.0p per litre for petrol and 151.6p per litre for diesel.Oil prices plummeted last week, leading to a cut in wholesale costs for fuel retailers.However, prices could rise again with consumers expected to pay around 240.0p a litre this year.
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