New figures show average petrol prices have exceeded £1.70 per litre for the first time. The average price for a litre of petrol at UK forecourts yesterday (May 24) was 170.4p, according to data company Experian Catalist.
Diesel also hit a record high of 181.4p per litre. This time last year, petrol was 129.0p per litre, with diesel at 131.3p per litre.
RAC fuel spokesman Simon Williams said the price of petrol has reached "another unfortunate landmark". Oil prices are continuing to rise as a result of rising demand, exacerbated by Russia's invasion of Ukraine.
With businesses cutting off ties to Russian oil, the current crisis could get even worse. Mr Williams said the rising cost of diesel especially will have a knock-on impact on prices elsewhere.
He said: "The rising prices of diesel is going to have a big effect on hauliers and all the goods and services we have in this country, because most things on the road are moved by diesel." It has been reported a Government plan to help support people amid the cost of living crisis could come imminently - amid ongoing revelations about Covid rule-breaking in Downing Street.
