Video: Will Smith punches Chris Rock at the Oscars (The Independent)China in 'significant jeopardy' if it aids Russian attack on Ukraine, says BidenUkrainian orphans arrive in the UK from PolandHarrowing drone footage shows extent of Tornado damage in LouisianaWatch live as Boris Johnson speaks after NATO leaders meetingPrince William expresses ‘profound sorrow’ at slavery during Jamaica visitPrince William sets up Raheem Sterling goal as pair enjoy kickabout in JamaicaPensioner says she's 'frightened to put the heating on' amid cost of living crisisWar in Ukraine: One month on from Russia's invasionVolodymyr Zelensky urges millions to protest as he calls for worldwide Ukraine supportGay couple adopts dog abandoned for ‘being gay’Harry Styles announces new album 'Harry's House'Trump dismisses climate change as 'a thing called weather'Warehouse worker panics as he realises he's live on BBC BreakfastPrince William and Kate Middleton scuba dive along world’s second-largest barrier reefAsh Barty: world number one announces shock retirement from tennisNasa video shows global temperatures rise over last 140 years Read more MasterChef fans call for show to 'stop using' phrase about Solihull's Pookie "If the involved party desires a police report at a later date, LAPD will be available to complete an investigative report. "About 45 minutes later, when accepting his first Oscar for best actor for his role in King Richard, Smith apologized to the Academy of Motion Picture Arts and Sciences and his fellow nominees in a tear-filled speech, but not to Rock.
Petrol prices in UK could rise to £2.40 a litre this year due to Russia's invasion of Ukraine
14.03.2022 - 20:09 / dailyrecord.co.uk
Petrol prices in the UK could reach as high as £2.40 a litre this year due to Russia's invasion of Ukraine.
Dr Amrita Sen, Director of Research at Energy Aspects, told MPs on the Treasury Committee at Westminster that oil prices will fluctuate throughout the year.
Vladimir Putin 's war in neighbouring Ukraine has led to a rise in the oil price due to a number of factors, including supply fears.
Figures from data firm Experian Catalist show the average cost of a litre of petrol at UK forecourts on Sunday was 163.5p, while diesel was 173.4p.
A month ago, pump prices were 148.0p per litre for petrol and 151.6p per litre for diesel.
Oil prices plummeted last week, leading to a cut in wholesale costs for fuel retailers.
However, prices could rise again with consumers expected to pay around 240.0p a litre this year.
Tory MP Anthony Browne, member of the Treasury Committee, asked Sen: "You say prices are going to go up for petrol and diesel.
"At the moment on the forecourt we're seeing petrol at 160 or above and diesel 170 or above. Have you any predictions of how high it could go?"
Sen replies: "We are expecting, so if you do it on the basis of crude oil, crude oil prices right now are about 110. We are saying it could easily go up by $50.
"So let's say it's just over a 50 per cent increase, so that's how much then retail prices would go up - assuming there are no tax changes that are implemented by the government.
"You can always reduce the amount of tax at the petrol pump."
Browne then asks: "If taxes stay the same. Do you mean that if it's currently at 160 per litre for petrol then it would end up being 240?"
"Yes, around that much," Sen replies.
The price per barrel of Brent crude, the most commonly used way of measuring the UK's
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