London, (Parliament Politics Magazine) – The average cost of filling a family car with diesel has now topped £90 for the first time. The RAC motoring group said that we recently saw the biggest daily jump in the average price of a litre of diesel since 2000 – with it rising 3p overnight to a record high of 165.24p. Although the UK gets 8% of its oil imports from Russia and about 18% of its diesel imports from Russia as well, an oil embargo was placed on Russia on Tuesday for invading Ukraine and it has left governments worldwide searching for alternative supplies.
The RAC also stated that petrol has risen by 2p too and is now 188.2p. On Wednesday the cost of a barrel of crude oil rose by 1.3% and expects say that this will have a knock- on effect on retail prices, pushing them even if her. A spokesman for RAC fuel, Simon Williams, said “The diesel daily increase was the second largest on record since 2000. 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.
Petrol is now certain to top an average of £1.60 a litre this week while diesel will progress very quickly towards £1.70.” Wholesale gas prices have been increasing for months now, and analysts expect that the UK’s energy price cap will rise to more than £3000 a year for the average household after the next review in October. An oil and gas analyst, Nathan Piper, said “We are on the cusp of a prolonged period of high oil and gas prices, possibly lasting several years. You can’t just cut the second largest gas producer and third largest oil producer out of global supply and not expect it to have a big impact on consumers.”