Fuel prices hit new record highs at the weekend and will “undoubtedly” go higher still after Russia deployed troops in eastern Ukraine.

Forecourt prices hit new record highs of 149.12p for petrol and 152.58p for diesel on Sunday 20 February

Already, data from the RAC for the weekend shows forecourt prices hit 149.12p for petrol and 152.58p for diesel on Sunday 20 February. Yesterday petrol averaged 149.03p and diesel 152.51p.

Since then, both oil and gas prices have surged after Russia ordered troops into eastern Ukraine.

Speaking today, RAC fuel spokesman Simon Williams said: “Russia’s decision to invade Ukraine is already causing oil prices to rise and will undoubtedly send fuel prices inexorably higher towards the grim milestone of £1.50 a litre. The price of oil is likely to go above $100 and stay there on the back of traders fearing future disruptions in supply.

“This spells bad news for drivers in the UK struggling to afford to put fuel in their cars.

“With retailers quick to pass on any wholesale price rises they experience, we could sadly see the average price of unleaded hit 150p in the next few days and diesel approaching 154p.”

The RAC had already accused fuel retailers of profiteering after it said that the wholesale fuel prices didn’t merit further retailer rises across the board; it’s urged retailers to play fair with drivers at this difficult time.

However, it’s also said there is a glimmer of hope that more oil may come on to the market from Iran due to a possible nuclear agreement with the US to end sanctions.