Petrol prices could reach as high as £2.50 per litre and diesel could soar to £3 per litre as Russia’s invasion of Ukraine keeps pushing oil prices, MPs have been told.
Dr Amrita Sen, director of research at Energy Aspects, told the Treasury Committee that Britons can expect the current trend at the pump to continue as long as crude prices climb.
Prices at the pump have jumped in recent weeks, reaching a succession of fresh highs amid the Ukraine crisis. The latest UK forecourt figures from the data firm Experian Catalist again broke records, with the average cost of a litre of petrol on Sunday hitting 163.5p, while diesel was 173.4p.
