Petrol prices will rise above £1.60 a litre as the turmoil from the war in Ukraine spreads, the government estimates, with experts forecasting that household energy bills will reach £3,000 a year.
Russia’s invasion pushed the price of Brent crude, the global benchmark, to $105 a barrel, its highest level since 2014. Government insiders expect that western sanctions on Russia will push up prices further, amplifying the rise in the cost of living in Britain.
In the Commons Boris Johnson acknowledged that the invasion would have “global economic consequences”. “The government will do everything possible to safeguard our own people from the repercussions for the cost of living,” he said.
Petrol prices in the UK yesterday reached on average 149.5p a litre, although motorists in
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2022-02-25 00:01:00Z
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