The plummeting value of the pound could lead to Brits paying £3 more to fill up a tank of petrol or diesel.
The pound suffered further falls this morning, dropping to US $1.06 at one stage after reaching $1.08 yesterday.
And analysis shows that if the pound reaches parity with the US dollar, then the wholesale price per litre of oil will likely increase from 63.5p to around 68p.