London Daily

Focus on the big picture.
Tuesday, Feb 24, 2026

UK petrol price jumps above £1.50 as oil costs rise

UK petrol price jumps above £1.50 as oil costs rise

Fuel prices have hit record highs in the UK as Russia's invasion of Ukraine continues to affect global oil prices.

The RAC said the average price of petrol jumped to £1.51 a litre on Sunday, while diesel increased to £1.55.

The price of both fuels has jumped since Thursday, when Russia began its assault on Ukraine.

RAC fuel spokesman Simon Williams said despite oil prices calming, prices at the pump will continue to rise.

The cost of filling a 55-litre family car with unleaded petrol is now £83, or £85 for diesel.

"This week will be an important one in terms of the oil price as it's likely to reveal the speed of the inevitable upward trend or the extent of the volatility in the market," said Mr Williams.

The price of Brent crude rose by 4.6% to $102 barrel on Monday after Western nations imposed new sanctions on Russia - one the world's largest energy producers.

Petrol price movements in the UK are mainly determined by the price of crude oil, and the exchange rate between the dollar and the pound, because fuel, like oil is traded in dollars.

Although the UK imports just 6% of its crude oil from Russia, it would still be affected by global wholesale prices rising.

Prices were above the average at a Shell garage in West Yorkshire on Monday


UK consumers are already paying a high price for fuel, with demand surging following the easing of Covid restrictions.

Steve Irwin, from fuel consultancy firm Portland, told the BBC that prices had risen due to concerns over oil and gas pipelines which travel through Ukraine and carry Russian products.

He said there was "potential for enormous supply disruption" if Russia retaliated to sanctions and used oil "as a weapon".

"It's impossible to know what kind of trajectory we are looking at for oil prices over the coming weeks," he said.

However, Mr Irwin added that price was a bigger concern than supply currently, as the US and Saudi Arabia are also huge oil exporters.

'What do you put first? Food, heating or petrol?'
Mandy Watts is limiting how much she drives because of the price of fuel


Mandy Watts depends on her car for work, but thinks "the cost of petrol has gone through the roof".

Going carless isn't an option for Mandy, but she is trying to use it less.

"Being a single parent as well, you have to think about these things," she told the BBC.

"Is it petrol, is it food, is it heating, what do you put first? Food and heating has to come before petrol. So I tend to limit a little bit where I go now."

'A silver lining'


Robert Halfon, a former Conservative minister, has called on Chancellor Rishi Sunak to look at reducing VAT or fuel duty, which has been frozen for 12 years.

He told the Times: "Given what is going on it is genuinely going to be unaffordable for most families. It isn't just for motorists, it's businesses too because they can't afford transportation costs and things like that."

Luke Bosdet, fuel spokesman for the AA, said the rise in fuel costs came at the same time as households were facing energy bill rises.

"To think that, less than two years ago, fuel at £1 a litre beckoned," he said.

"If there is a silver lining, the predictions of 160p or even 170p-a-litre fuel now look exaggerated as the oil price fell back after one day's surge last week."

Newsletter

Related Articles

0:00
0:00
Close
Lord Mandelson Condemns Arrest as Driven by ‘Baseless Suggestion’ He Would Flee Abroad
Former UK Ambassador Released on Bail Following Arrest in Epstein-Linked Investigation
UK Parliament Orders Release of Former Prince Andrew’s Government Vetting Files
Reddit Fined £14 Million by UK Regulator Over Failures in Age Verification Controls
UK Moves to Tighten Regulation of Netflix, Disney+ and Prime Video Under New Media Rules
British Woman Who Reported Rape in Hong Kong Faces Possible Prosecution
UK Sanctions New Zealand Insurer Maritime Mutual Following Allegations Over Russian Oil Cover
Reform MP Danny Kruger Condemns UK’s ‘Unregulated Sexual Economy’ in Call for Tougher Controls
UK Sanctions Russian ‘Illicit Oil Traders’ After Email Blunder Exposes Sanctions Evasion Network
Russia Amplifies Baseless Claims That UK and France Plan to Arm Ukraine with Nuclear Weapons
UK Imposes Sanctions on Two Georgian Television Channels Over Alleged Russian Disinformation
United States National Parks See Noticeable Drop in Visitors from Canada, U.K. and Australia
UK, Australia, Canada and New Zealand Escalate Sanctions on Russia as Ukraine War Marks Four Years
I Gave Andrew a Nude Massage Inside Buckingham Palace
UK Economy Faces Acute Strain as Trump’s Global Tariff Reshapes Trade Landscape
UK Signals Retaliation Is Possible as New US Tariff Policy Threatens Trade Stability
British Police Arrest Former Ambassador Peter Mandelson in Epstein-Related Misconduct Probe
Australia Officially Supports Proposal to Remove Andrew Mountbatten-Windsor from Royal Succession
Victorian Premier Jacinta Allan remains silent on ISIS brides' resettlement plans in Melbourne
Former UK Ambassador Peter Mandelson Arrested in Connection with Jeffrey Epstein
Jacob Rees Mogg afraid to talk about Peter Mandelson arrest on “suspicion of misconduct in a public office” (Pedophilia, corruption, etc.)
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
President Trump warns countries against abandoning recent trade deals with the US
Diverging Polls Show Mixed Signals on UK Economic Revival as Confidence Remains Fragile
Spotify Expands AI-Driven ‘Prompted Playlists’ Feature to the United Kingdom and Other Markets
Greens and Reform UK Surge in Manchester By-Election, Threatening Labour’s Historic Stronghold
UK Businesses Push for Closer European Trade Links Amid Renewed US Tariff Uncertainty
Deloitte Global Overhaul Sparks Leadership Contest in the United Kingdom
University of Kentucky and Microsoft to Showcase Campus-Wide AI Innovation
UK Food System Faces Acute Vulnerability to Shocks, Experts Warn
Reform UK’s Proposed ICE-Style Deportation Scheme Triggers Sharp Backlash
U.S. Global Tariff Push Leaves Britain, Australia and Others Facing Higher Costs and Trade Strain
UK Police Officers Guarded 2010 Epstein Dinner Attended by Prince Andrew, Reports Say
US Trade Representative Affirms Commitment to Existing Tariff Agreements with UK and Other Partners
Activists at the Louvre hung a framed Reuters photograph of Andrew Mountbatten-Windsor slumped in the back of a car leaving a police station on the day of his arrest
The royal biographer said that he expected the police to 'look at the money trail' - including Sarah Ferguson borrowing money from Epstein
A Protestor screams in NYC: “Bill Gates is on the Epstein’s List…”
FBI and Secret Service Hold Press Conference After Shooting Incident at Mar-a-Lago
Mark Zuckerberg Testifies in Trial Over Social Media's Impact on Children's Mental Health
Maggie Oliver exposes Keir Starmer using letters to close child rapists investigations
Kouri Richie's wrote a children’s book to help her sons grieve the death of their father. Now she’ll stand trial for his murder
New York Braces for Major Snowstorm With Up to 18 Inches Forecast and Blizzard Warnings Issued
Mexican Military Kills CJNG Leader Nemesio Oseguera Cervantes as Violence Erupts Across Jalisco
Metropolitan Police Deploys Palantir-Powered AI to Flag Potential Officer Misconduct
UK Parliament Rebukes Police Over Ban on Israeli Football Fans
Britain Emerges Among a Small Group of Nations Without a Religious Majority
UK’s Manufacturing Base at Risk as Soaring Energy Costs Weigh on Industry
Matt Goodwin’s Unconventional Campaign for Reform UK in the Gorton and Denton By-Election
US Military Movements in the UK Spark Speculation Over Preparations Related to Iran Tensions
×