By Evie Smith-Adams
The facts.
Each day fuel prices hit new record highs. Both diesel and petrol prices have risen massively since Russia began its attack on Ukraine. Today the RAC motoring group told the BBC that “Petrol prices have hit another record high meaning it now costs more than £90 to fill a family car with petrol.”
On Sunday it was reported that £1.63 was the average price per litre for petrol in the UK, with diesel being £1.73 a litre and above. The previous record price for petrol was £1.60 per litre.
Why has this happened?
Since Russia is one of the largest oil producers in the world the sanctions that have been put on Russia have caused major disruption, which have led to shortages. The UK has put a stop to Russian oil imports causing the rise in prices.
How is this affecting people?
Around London we can see the effects that the rising prices are having on people and businesses. A report by the BBC on 7th March demonstrated how London’s black cab drivers are struggling due to the rising prices of diesel. Usually, they drive in search of passengers however they are now “queuing at ranks”, according to their union.
Islington locals filling up at Shell on Holloway Road, who wished to remain unnamed, expressed how worried they were about the rising prices.
“I’m not happy, because it’s affecting my life… it’s really hard at the moment to pay,” said a motorcycle courier.
‘I filled up a week ago, £73 which is a rise of around £23… I’m a homeowner and obviously I budget for the week or the month and that just takes me way out of my budget levels, so it’s gonna be hard… we’re going to have to make some harsh decisions.”
Not only are these rising prices affecting businesses, they are affecting people and their families. With this and the rise in living prices including food, electricity and gas it is clear to see that people will be heavily impacted.
Furthermore, an article on MailOnline reports that another repercussion of the rising petrol prices is a 200% increase of drivers who are getting away with not paying at the pumps, as well as an increase of threats and violence towards staff.
The good news
Are the prices going to drop? Boris Johnson is reportedly planning a trip to Saudi Arabia to make some oil and gas deals, against criticism of the regime’s human rights policies. Saturday, the regime beheaded 81 men, which Crispin Blunt, a backbench Conservative MP, called “a new low for human rights and criminal justice in the kingdom, only a week after the crown prince had promised to modernise its justice system”.
It’s been suggested, however, that petrol prices will begin to decline due to global fuel and oil prices easing. This is according to UK motoring groups such as the AA who said that ‘Pump prices should stabilise’.
We can also find relief in knowing that as we move into spring engines will not have to work as hard meaning our cars will be saving slightly more fuel.
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