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UK Petrol prices hit new high amid Ukraine tensions
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<blockquote data-quote="N A K A M U R A" data-source="post: 27405697" data-attributes="member: 566874"><p><strong>Average UK petrol and diesel prices have hit new highs as the Ukraine crisis continues to affect oil prices, the RAC has said.</strong></p><p></p><p>On Wednesday, petrol prices rose to 149.30p per litre amid warnings it could soon pass £1.50.</p><p></p><p>Oil prices jumped after Russia ordered troops into two Ukrainian regions this week to "maintain peace".</p><p>Wholesale gas prices also continue to climb, threatening to further push up heating bills.</p><p></p><p>Russia is the world's second-largest oil exporter after Saudi Arabia and the top producer of natural gas globally.</p><p>The UK only gets 6% of its crude oil and 5% of its gas from Russia, but there are concerns sanctions could constrict supplies and drive up prices worldwide.</p><p></p><p>UK consumers are already paying a high price for energy and fuel, with demand surging following the easing of Covid restrictions.</p><p></p><p>Former National Grid boss Steve Holliday told the BBC's Today programme: "For the UK, it's a price issue, it's not a security supply issue.</p><p>"We already know that we've got consumers that are already experiencing huge jumps in their energy bills, so this is really very unwelcome."</p><p>The price of Brent crude oil, an international benchmark, hit a seven-year high of more than $99 (£73) on Tuesday before falling back on Wednesday.</p><p>However, fuel pump prices lag behind oil prices and the RAC has warned petrol could go higher than £1.50 a litre in the coming days.Diesel has also risen, hitting 152.68p a litre on Wednesday.</p><p></p><p><a href="https://lm.facebook.com/l.php?u=https%3A%2F%2Fbbc.in%2F3v8MtMQ&h=AT3kXxPyZEkDHh-pIx5H27KRG2U0g_9co__GdeYgt9YRHOS3B3N_ntUVgBPW_zEzqKyU9wVLTdfA7jN_xsaV0I3uq7lzVbN3pUvIto74RkLrwq4GoRwys_OTNexxR_Le0QwS" target="_blank">https://lm.facebook.com/l.php?u=https://bbc.in/3v8MtMQ&h=AT3kXxPyZEkDHh-pIx5H27KRG2U0g_9co__GdeYgt9YRHOS3B3N_ntUVgBPW_zEzqKyU9wVLTdfA7jN_xsaV0I3uq7lzVbN3pUvIto74RkLrwq4GoRwys_OTNexxR_Le0QwS</a></p></blockquote><p></p>
[QUOTE="N A K A M U R A, post: 27405697, member: 566874"] [B]Average UK petrol and diesel prices have hit new highs as the Ukraine crisis continues to affect oil prices, the RAC has said.[/B] On Wednesday, petrol prices rose to 149.30p per litre amid warnings it could soon pass £1.50. Oil prices jumped after Russia ordered troops into two Ukrainian regions this week to "maintain peace". Wholesale gas prices also continue to climb, threatening to further push up heating bills. Russia is the world's second-largest oil exporter after Saudi Arabia and the top producer of natural gas globally. The UK only gets 6% of its crude oil and 5% of its gas from Russia, but there are concerns sanctions could constrict supplies and drive up prices worldwide. UK consumers are already paying a high price for energy and fuel, with demand surging following the easing of Covid restrictions. Former National Grid boss Steve Holliday told the BBC's Today programme: "For the UK, it's a price issue, it's not a security supply issue. "We already know that we've got consumers that are already experiencing huge jumps in their energy bills, so this is really very unwelcome." The price of Brent crude oil, an international benchmark, hit a seven-year high of more than $99 (£73) on Tuesday before falling back on Wednesday. However, fuel pump prices lag behind oil prices and the RAC has warned petrol could go higher than £1.50 a litre in the coming days.Diesel has also risen, hitting 152.68p a litre on Wednesday. [URL]https://lm.facebook.com/l.php?u=https%3A%2F%2Fbbc.in%2F3v8MtMQ&h=AT3kXxPyZEkDHh-pIx5H27KRG2U0g_9co__GdeYgt9YRHOS3B3N_ntUVgBPW_zEzqKyU9wVLTdfA7jN_xsaV0I3uq7lzVbN3pUvIto74RkLrwq4GoRwys_OTNexxR_Le0QwS[/URL] [/QUOTE]
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