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Wales Online

National

Ffion Lewis

Petrol prices near me: The cheapest fuel at Morrisons, Tesco, Asda and local stations as experts warn of further increases

Morrisons Asda Tesco Texaco

Petrol prices could reach as high as £2.50 per litre and diesel could soar to £3 per litre as Russia’s invasion of Ukraine keeps pushing oil prices, MPs have been told.

Dr Amrita Sen, director of research at Energy Aspects, told the Treasury Committee that Britons can expect the current trend at the pump to continue as long as crude prices climb.

Prices at the pump have jumped in recent weeks, reaching a succession of fresh highs amid the Ukraine crisis. The latest UK forecourt figures from the data firm Experian Catalist again broke records, with the average cost of a litre of petrol on Sunday hitting 163.5p, while diesel was 173.4p.

Dr Sen said the group was working on the assumption that the price of crude oil could “easily” rise by 50%.

She said: “If you do it on the basis of crude oil, we’re saying it could easily go up by 50%. Assuming no tax changes implemented by the government, [petrol] could end up being £2.40 per litre.”

She said that because of diesel’s role in industry, it “could go to £2.50, even closer to £3. That’s definitely within the realms of possibility.”

Sen added that diesel was likely to be rationed in Germany before the end of March and that the same could happen in the UK.

New pump price records have been set daily in the past week with the average cost rising 5.4p per litre since last Sunday. This has added nearly £3 to the cost of filling up a typical 55-litre tank in a week bringing the bill to just over £88.50, the AA said.

This comes as petrol and diesel prices reached a new high across the UK as demand for oil increases.

Previously, supply-chain issues sent fuel skyrocketing last year and now businesses are cutting off ties to Russian oil which is driving the demand.

It still means it's worth looking around for the best prices when looking to fill up your car – supermarket forecourts usually offer the cheapest fuel prices. This is because of the market power supermarkets hold – the big names like Asda, Tesco, Sainsbury’s and Morrisons are all in competition with one another so they keep fuel prices as low as possible hoping that when motorists come to fill their tank they might do their weekly grocery shopping too.

What should be done to keep the cost of petrol and diesel down? Have your say in the comments section.

But how have the price increases affected the cost of petrol where you live? We checked the latest prices of unleaded as recorded on petrol station comparison website PetrolPrices.com.

It is worth noting that the website relies on users submitting prices therefore the price recorded on the site for each station may slightly differ from the actual price depending on how recent the last submission for that station was.

Here are the cheapest and most expensive places to fill up with unleaded within five miles of your local area.

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