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Fuel prices: London petrol station charges soar by £2.50 per liter in another ‘new record’ | United Kingdom | New UK News

Prices hit 238.9p per liter for unleaded petrol and 249.9p for a liter of diesel at a Gulf gas station on Sloane Avenue, according to a report. Simon Williams of RAC motoring group said it was considered one of the highest in the UK.

Mr Williams told BBC Radio London: “Every day feels like a new record high.

“These are particularly high prices, the average is currently 183p per liter for petrol and almost 189p per liter for diesel.

“These prices are therefore particularly high, among the highest in the country.”

Gulf was approached by the BBC for comment.

The cost of petrol has soared in recent weeks, with the average petrol price now at 182.31 pence per liter and 188.05 pence per liter for diesel.

Fuel prices rose sharply because the price of crude oil, which is used to make gasoline and diesel, rose.

The spike in fuel prices was driven by the war in Ukraine and moves to reduce Europe’s dependence on Russian oil.

As food and energy bills also rise, many households are under pressure.

READ MORE: London emergency: Stratford station evacuated

Fuel prices fell at the start of the Covid pandemic as many businesses closed temporarily and demand for energy collapsed.

But as global economies recovered, prices rose again and rose again after Russia invaded Ukraine.

Changes in pump prices are primarily determined by crude oil prices and the dollar exchange rate, as crude oil trades in dollars.

Russia is one of the world’s top oil exporters and is under economic and trade sanctions, which has led to potential supply problems, driving up oil prices.

EU leaders said they would block most Russian oil imports by the end of 2022 to punish Moscow, which also had an effect on prices.

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This notice was published: 2022-06-11 04:52:54

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