Petrol could soar to £2.50 a litre, while diesel could hit £3 and may even be rationed, experts told MPs on Monday, as they warned that Russia’s invasion of Ukraine spells worsening pain for consumers.
In testimony to the Treasury select committee, leading economics and energy analysts also called on the chancellor, Rishi Sunak, to subsidise lower-income households to cope with soaring home energy bills, amid a broader cost of living crisis.
