Pump prices for both petrol and diesel hit new record highs on Sunday (27 February) at 151.25p and 154.72p respectively.

The RAC said prices at the pump will continue to go up as retailers buy in new stock at much higher prices

The latest figures from the RAC show the continued impact of the Russian invasion into Ukraine on UK fuel prices, amid warnings that pump prices will keep going up.

RAC fuel spokesman Simon Williams said: “The average price of both petrol and diesel hit worrying new record highs on Sunday, with unleaded jumping to 151.25p and diesel to 154.72p. This makes a full tank of petrol for a 55-litre family car £83 and diesel £85. The average price of both fuels has shot up by more than 1.5p since Thursday.

“Despite the wholesale market calming slightly at the end of last week as oil fell back under $100, prices at the pump will continue to go up as retailers buy in new stock at much higher prices. This week will be an important one in terms of the oil price as it’s likely to reveal the speed of the inevitable upward trend or the extent of the volatility in the market.”