The Russian invasion of Ukraine has sparked fears there may be fuel shortages and price spikes, as the nation is the world’s second-biggest oil producer, and mainly sells to other European countries
Long queues have been pictured at petrol stations in parts of the UK amid fears the price of oil and gas could shoot up following the crisis in Ukraine.
Russia is the world’s second-biggest oil producer and the largest natural gas exporter, and mainly sells to other European countries.
Pump prices have already been rising as oil edged past $90 a barrel, but the Ukraine invasion has now seen it jump above $100.
Oil prices typically quickly flow through to what drivers pay at the forecourt.
Prime Minister Boris Johnson has already warned that “one of the risks of Putin’s venture is that there could be a spike in… oil prices”.
However, there is no indication that people in the UK need to panic buy fuel.
The nationwide average for unleaded is already a shade under £1.50 a litre, and diesel above that.
Experts warn petrol could hit £1.70, over even more, if oil keeps rising.
This threat of a further increase in price has forced many into queuing at pumps, trying to get the cheapest price per liter in the chance it may rise more in the coming days.
Joe Michalczuk spotted long queues at his local Sainsbury’s in Winchester today.
“They had staff directing traffic” he told The Mirror.
“And the queue had built from 4pm to 7pm where it snaked around the majority of the car park.
“It was identical to the petrol panic. But rather smugly today, I have an electric car.”
According to HullLive, large queues have been spotted in Hull and parts of Lincolnshire.
Drivers were spotted waiting for longer periods to get their petrol at Morrison’s, Holderness Road, on Thursday afternoon.
In London, one person wrote on Twitter: “Long queues at every petrol station this lunchtime on the outskirts of London.
“Reminds me of the recent petrol crisis.
“I’m guessing many believe the war in Ukraine will increase the cost of petrol significantly, so they are filling up their cars now?”
A picture was posted by another driver, who wrote: “Queue at Costco for petrol half an hour ago… Looks like the conflict is gonna drive prices up.. I’d shop around..
“PREMIUM diesel at Costco, £1.42, at the BP garage near me, £1.62, Morrisons are £1.50 for standard diesel.”
One driver, who went to fill up at an Asda in Kingswood, said that the scene was “hectic”.
People are being urged to consider ways in which they can use less fuel as prices rise, rather than engaging in panic-buying over the coming weeks.