Selasa, 15 Februari 2022

More woe for drivers as Government figures show average petrol price hitting 146.95p per litre - Daily Mail

More woe for drivers as Government figures show average petrol price hitting 146.95p per litre and will soar higher if Russia invades Ukraine

  • The average cost of a litre of fuel at UK garages has jumped up to 146.95p
  • It comes after separate figures showed that petrol and diesel had hit record high
  • The AA said the cost of living crisis has been ratcheted up yet another notch

The average price of petrol at UK forecourts has jumped by 0.6p to 146.95p per litre, according to Government figures - with things feared to get worse.

Data published by the Department for Business, Energy and Industrial Strategy (BEIS) showed the average price on Monday was the highest since it hit 147.53p per litre in November last year.

It comes after separate figures from the AA suggested petrol and diesel prices both struck record highs over the weekend.

The problem will be made worse if Russia invade Ukraine, with the Vladimir Putin-led country likely to reduce the flow of oil to international markets. 

The new BEIS data showed that the price of diesel increased by 0.8p to 151.10p per litre on Monday compared with last week.

Shell petrol station near Taplow, in Buckinghamshire yesterday, as petrol prices rose again

Shell petrol station near Taplow, in Buckinghamshire yesterday, as petrol prices rose again

Data from the Department for Business, Energy and Industrial Strategy showed the trend

Data from the Department for Business, Energy and Industrial Strategy showed the trend

The increases in prices was actually more for unleaded petrol than for diesel fuel

The increases in prices was actually more for unleaded petrol than for diesel fuel

This also fell marginally short of record levels from the last week of November.

On Monday, the AA said its data showed the average price of petrol for British drivers surpassed 148p per litre for the first time.

Meanwhile, the cost of diesel has also increased to a new record high of 151.57p per litre on Sunday, the organisation said.

Luke Bosdet, the AA's fuel price spokesman, said: "The cost of living crisis has been ratcheted up yet another notch, tightening the vice on family spending when it faces other pressures from impending domestic energy cost and tax increases."

Prices at the pump compared with the cost of brent crude oil over the past 12 months

Prices at the pump compared with the cost of brent crude oil over the past 12 months

Prices have soared on the back of wholesale fuel prices, which have jumped amid a resurgence in demand following the reopening of global economies, but have also been spurred in recent days by concerns that Russian tensions could have an impact on supply.

The price of crude oil pulled back on Tuesday morning amid reports Russia has moved some troops away from its border with Ukraine, resulting in 2.7% fall to 93.89 dollars per barrel.

Last week, BP revealed it swung to a mammoth £9.5 billion underlying replacement cost profit – its preferred measure – for 2021 from losses of £4.2 billion the previous year, notching up £3.01 billion of profits in the final three months alone - up from just £85.1 million a year earlier.

The company also announced more cash returns for shareholders, with another £1.1 billion of share buybacks before its first-quarter 2022 results and a dividend payout of 3.37p a share for the fourth quarter.

And London-based energy giant Shell has increased its profits nearly fourteen-fold to £12billion, it was revealed last week.

The company collected £6.55 ($8.88) for every thousand cubic feet of gas it sold to customers in the last quarter of 2021 - with gas previously selling for less than half this amount only six months earlier. 

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2022-02-15 11:38:15Z
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