Petrol and diesel prices hit record high

The UK is facing even greater bills as petrol and diesel prices have reached a record high.

According to the AA, both petrol and diesel were the most expensive they’ve ever been on Sunday 13 February, with the average price of petrol being 148.02p per litre.

Meanwhile, diesel hit 151.57p per litre, passing the previous record of 151.10p per litre set on November 21, 2021.

“The cost of living crisis has been ratcheted up yet another notch, tightening the vice on family spending when it faces other pressures from impending domestic energy cost and tax increases,” AA fuel price spokesman said.

READ MORE: Issa brothers load Asda with £500m debt after petrol U-turn

The news follows supermarkets are being urged not to hike up fuel prices, by the RAC, as the cost of oil rises to nearly $100 a barrel.

The move comes as the supermarket giants have raised profit margins on petrol over the last three months.

The RAC credits the price rise to the oil production demand continuing to fall behind, alongside recent tensions between the world’s third biggest oil producer, Ukraine and Russia.

“With the price of oil now at a level not seen in more than seven years and a cost of living crisis mounting, we’re on a knife-edge when it comes to pump prices,” the RAC fuel spokesman Simon Williams said.

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