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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Oil & Gas

Petrol passes 150p to hit record highs

Petrol prices surpass 150p per litre as crude oil continues to sit at near eight-year highs

Petrol prices are at an all-time high in the UK amid the continued fallout from Russia’s invasion of Ukraine.

The average price of unleaded petrol hit 151.25p on Sunday, according to the RAC, while diesel was 154.72p per litre.

"This makes a full tank of petrol for a 55-litre family car £83 and diesel £85,” RAC’s spokesman Simon Williams told Sky News.

"Prices at the pump will continue to go up as retailers buy in new stock at much higher prices.

"This will 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."

It comes as oil prices reach their highest level since August 2014, with brent crude surpassing US$100 a barrel.

Shell PLC (LSE:SHEL, NYSE:SHEL, EURONEXT:SHELL)’s share price was down 2.3% to 1,954.4p as of 15:22 GMT, though it is flat over the week against widespread disruption in the UK stock market.

BP PLC (LSE:BP.)s share price was down 5.14% to 359.05, tied largely to its announcement that it intends to sell its 20% stake in Russian-owned Rosneft (AIM:ROSN).

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