The price of diesel rose 3p to 165.2p on Thursday, representing the highest overnight spike in over two decades.
The price of petrol increased 2p to 158.2p as Russia’s war on Ukraine continued to strangle oil supplies.
Brent Crude was trading at $112.2 per barrel on Friday morning.
The RAC group noted that the Ukraine conflict is having a significant impact on consumers across the UK.
Although the UK only sources 8% of its oil from Russia, its diesel consumption relies on the embattled country for 18% of its supplies.
Business Secretary Kwasi Kwarteng mentioned in a tweet that the UK aims to end its imports of Russian oil by the close of 2022.
NEW – the UK will phase out the import of Russian oil and oil products by the end of 2022.
— Kwasi Kwarteng (@KwasiKwarteng) March 8, 2022
This transition will give the market, businesses and supply chains more than enough time to replace Russian imports – which make up 8% of UK demand.
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“The diesel daily increase was the second largest on record since 2000,” said RAC fuel spokesperson Simon Williams.
“The cost of a filling a 55-litre family car with petrol is now £87 – £7 more than it was at the start of the year.”
“Diesel drivers are even worse off with a tank now costing more than £90 for the first time ever – £8 more than in early January.”
“Petrol is now certain to top an average of £1.60 a litre this week while diesel will progress very quickly towards £1.70.”