Fuel prices have reached new record levels as the Ukraine crisis affects the price of oil.
The RAC said the average cost of a litre of petrol or diesel at UK forecourts on Tuesday was 149.30p or 152.68p respectively.
It warned drivers to expect petrol prices to hit the “grim milestone” of 150p per litre in the coming days as retailers pass on rising wholesale costs.
File photo dated 01/09/21 of an E10 petrol pump by a Diesel pump at a Asda Petrol Station in Antree, Liverpool. The average price of diesel at UK forecourts has exceeded 150p per litre for the first time, the AA said. Issue date: Tuesday November 16, 2021.
Peter Byrne
The price of Brent crude oil hit a seven-year high of 99 US dollars on Tuesday due to concerns over the reliability of supplies after Russian troops entered eastern Ukraine.
This has fallen slightly to 96 US dollars, but experts said on Wednesday the price is likely to rise again with the possibility of a full-scale Russian attack on Ukraine being very high.
Oil prices “entering triple digits is still very much on the cards”, said Victoria Scholar, head of investment at Interactive Investor.
Meanwhile, more British weapons will be sent to Ukraine in response to the looming threat of a full-scale invasion by Russia.
Prime Minister Boris Johnson said lethal defensive weapons and non-lethal aid would be sent to the country.
The UK has already sent anti-tank weapons to the Ukrainian military to help counter the threat posed by Russian forces ringed around the country’s borders.
The Prime Minister said: “In light of the increasingly threatening behaviour from Russia, and in line with our previous support, the UK will shortly be providing a further package of military support to Ukraine.
“This will include lethal aid in the form of defensive weapons and non-lethal aid.”
Earlier Foreign Secretary Liz Truss warned Britain will make it “as painful as possible” for Russia if President Vladimir Putin unleashes an all-out attack on Ukraine.
Ms Truss said the Russian leader appears to be “hell-bent” on invading his neighbour, including potentially an assault on the capital Kyiv.
She said the Government has further measures “in the locker” which it could activate, after an initial tranche of sanctions announced on Tuesday was widely criticised as being too weak.