Petrol prices continue to soar in the West Midlands as Russia’s invasion of Ukraine sends crude oil prices spiralling. Latest figures from comparison site PetrolPrices.com show that the cheapest prices in the region reported by motorists over recent days is now 156.8p.
Yet the confused.com comparison website claims that one UK unnamed station was selling petrol yesterday at an eye-popping bargain price of 119.9p. The national average was 165.2p for petrol and 177.2p for diesel.
The jump in fuel prices comes as households already face being squeezed in every direction due to the cost of living drastically rising. However, the good news is that crude oil prices have eased back somewhat from their previous highs, and observers are hopeful that this will offer motorists some respite soon.
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Today’s cheapest West Midlands fuel can be found at petrol stations such as Applegreen in West Bromwich, Costco at Heartlands Parkway and Tesco Extras across Dudley, West Bromwich and Solihull. With all this in mind, we’ve rounded up the cheapest places in and around Birmingham to buy unleaded petrol according to PetrolPrices.com.
These prices were reported by buyers between March 11 and March 17. The cheapest places within ten miles of Birmingham city center are as follows:
- Applegreen West Bromwich – 156.8p
- Jet Icknield Street – 156.9p
- Costco Birmingham, Heartlands Parkway – 158.7p
- Jet Bordesley Road – 158.9p
- Gulf Vauxhall Road – 159.7p
- Gulf Watery Lane – 159.7p
- Gulf High Street, Coleshill – 159.7p
- Murco Summer Lane – 159.9p
- Texaco at Summer Lane, Bordesley Green, Coventry Road and Pershore Road – 159.9p
- Tesco Extra at West Bromwich, Dudley and Solihull – 159.9p
The cheapest places within ten miles of Worcester meanwhile are:
- Gulf A4103 – 159.7p
- BP Whittington Road – 159.9p
- Texaco Droitwich – 161.9p
- Texaco Castle Street – 162.9p
- Texaco Blackpole Road – 162.9p
Why are fuel prices so expensive?
UK fuel prices are rising as a knock-on effect of the war in Ukraine, which has sent crude oil prices spiralling. The United States is considering an outright ban on buying Russian oil supplies following the country’s invasion of Ukraine.
The threat of a ban on Russian oil imports is putting more pressure on oil supplies across the board, sending crude prices rocketing. This will result in further increases in petrol prices on UK forecourts, with implications for the wider economy.
Rising diesel prices are particularly threatening for the UK economy, as diesel is used by vans and HGVs to make deliveries. More expensive diesel costs therefore make deliveries more expensive, adding to overall costs.
Britain is already facing rising inflation, leaving household finances seriously squeezed. Energy bills are set to rise by nearly £ 700 from next month, as energy watchdog Ofgem raises its price cap.