A fuel expert has warned that the price of petrol and diesel could be expected to rise again in the future.
There are fears that petrol prices could continue to rise with ongoing uncertainty between Ukraine and Russia, as well as continuing global supply chain issues.
Simon Williams, RAC fuel expert, warned: “With oil producers struggling to up supply sufficiently to meet rising demand, along with ongoing uncertainty with Russia and Ukraine causing concern on the oil trading market, drivers are unfortunately in for even greater pain at the pumps in the coming weeks.
“The price of petrol has already gone up nearly 3.5p a litre since the end of last year, adding almost £2 to a full tank.
READ MORE - The 11 essentials you should keep in your car during bad weather
“Back in September 2014, petrol only cost 129p a litre, and diesel 133p, because the exchange rate was stronger at $1.6 to the pound which made wholesale fuel cheaper as it's traded in dollars.
“Now with sterling worth just $1.35 and a new requirement to blend additional costly bio content into petrol and diesel, both fuels are now far more expensive.”
Despite this, drivers across the UK have been handed a lifeline to save money on petrol costs as prices continue to soar.
Between February 17 and February 27, drivers at Morrisons supermarket will save 7p off every litre of fuel when they spend £40 in one of their 339 filling stations.
Rachel Eyre, Chief Customer and Marketing Officer at Morrisons, praised the price cuts, saying it will help drivers out at a tough time.
She said: "We know that the cost of living increases are really beginning to bite for everyone in the UK and we want to help our customers by saving them money on one of their biggest expenses.
“With Covid restrictions now easing, customers are using their cars more often and we believe this offer will help them to spread their budgets further.”
