UK petrol prices reach record high as Ukraine-Russia crisis continues

3 March 2022

UK petrol prices have soared and are predicted to keep rising following Russia’s invasion on Ukraine.

Alan Mason, Forecourt Petrol Station manager said: ” There isn’t a fuel shortage, the public are just trying to buy fuel before the price goes up, which then has a knock on effect. I think this will have a long term effect on the fuel prices.

We order three tanker loads of petrol a week but it will sometimes run out within just one day, so we have to put extra orders in. This means we might get refused or have to pay a premium to get extra orders which then pushes the price up.”

Petrol Pumps

In real terms, the February increase in the average price of petrol means that it now costs £83.14 to fill a 55 litre family car. A record for fastest rising petrol costs that has quickly overtaken the previous one, which was set last October during the UK fuel shortage.

The average price of unleaded has risen to 151.67p per litre, and the average price of diesel is now 155.23p per litre, costing £3 more than it did at the start of 2022, and a huge £15 more than a year ago.

RAC fuel spokesman Simon Williams said: “We know from RAC research that eight in ten drivers would struggle to get by without their cars and that the pandemic has made access to a car even more important than ever, but the exorbitant cost of filling up may force people to cut down on non-essential journeys to save money.

“February was undoubtedly a shocking month for drivers. A rise of 4.5p in any month is bad enough but when it takes pump prices to record levels, it’s bound to hurt households across the UK.”

Pump prices change when there are significant and sustained increases or reductions in the wholesale price of petrol or diesel. The other factor which affects the pump prices is how frequently retailers buy their fuel.

 

Written by Sophie Mason

I am a trainee journalist at the University of Sheffield. If you have any stories please contact me. I can be contacted at smason4@sheffield.ac.uk or on twitter @sophrose150

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Written by Sophie Mason

I am a trainee journalist at the University of Sheffield. If you have any stories please contact me. I can be contacted at smason4@sheffield.ac.uk or on twitter @sophrose150
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