Hull: Drivers queue for fuel at Kingswood petrol station

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The cost of fuel has increased because the wholesale price for crude oil used in manufacturing petrol and diesel has increased following Russia’s invasion of Ukraine. According to the numbers collated from data firm Experian Catalist, the average cost of a litre of diesel at UK forecourts reached 165.2p on Tuesday, up from Monday’s 162.3p.

The RAC, a British automotive services company, said the cost to fill up a tank of diesel in a typical family car has surpassed £90, some £8 more than in early January, for the first time ever.

Motorists already reeling from the cost of living increases have seen fuel bills rise in recent days as oil prices soar amid concerns over the reliability of supplies due to Russia’s invasion of Ukraine.

The price per barrel of Brent crude, which is the most commonly used way of measuring the UK’s oil price, reached $139 on Monday, which was its highest level in 14 years.

It has since come down but remains above $100 and this may take time to filter through to fuel prices on the forecourts.

The RAC said the 2.9p jump in the price of diesel was the largest they have ever recorded.

Meanwhile, the average price of a litre of petrol increased from 156.4p on Monday to 158.2p on Tuesday.

RAC fuel spokesman Simon Williams told Sky News: “The cost of filling a 55-litre family car with petrol is now £87 – £7 more than it was at the start of the year.

“Diesel drivers are even worse off, with a tank now costing more than £90 for the first time ever – £8 more than in early January.”

Mr Williams said the average price of petrol is “now certain” to hit £1.60 a litre this week with more increases at the pumps in the coming days “inevitable”.

He added: “We continue to call on the chancellor to help drivers by temporarily cutting VAT to at least 15%.

“As it stands, 26p a litre of what drivers are paying on the forecourt is attributable to VAT and that comes on top of 58p a litre in fuel duty.”

UK Business Secretary Kwasi Kwarteng announced on Tuesday the UK will phase out the import of Russian oil and oil products by the end of the year in a move matched by US President Joe Biden.

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The move was praised by Ukrainian President Volodymyr Zelensky, who said they sent a “powerful signal”.

Russian imports account for around 8 percent of the UK’s annual demand and the Government will now look towards its own producers of crude oil and petroleum products, as well as partners in the USA, Netherlands and Saudi Arabia.

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