Cost of living squeeze could push UK into ‘mild recession’; petrol price hits fresh highs – as it happened

A Shell petrol station forecourt in Portland, United Kingdom. Photograph: Finnbarr Webster/Getty Images

3.42pm BST

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Updated at 3.42pm BST

3.37pm BST

Boris Johnson has acknowledged that motorists were looking to the Government to do more to ease cost pressures, after fuel prices hit new records last weekend.

Attending the G7 summit in Germany, Johnson told the BBC:

“We need to help people through the current pressures. At the pumps people are thinking ‘you know, this Government could do more to help with the cost of fuel’.

“People are thinking ‘what are they doing to help me with the cost of food?’

So we’re doing as much as we possibly can.”