Mr Williams told BBC Radio London: “Every day seems to be a new record. “They are very high prices, the average is currently 183 p / liter for gasoline and almost 189 p / liter for diesel. “Therefore, these prices are very high, some of the highest in the country.” Gulf has been approached by the BBC for comment. The cost of gasoline has skyrocketed in recent weeks with the average price of gasoline now being 182.31 p per liter and 188.05 p per liter for diesel. Fuel prices have risen sharply as the price of crude oil, which is used to make gasoline and diesel, has risen. Rising fuel prices have been driven by the war in Ukraine and moves to reduce Europe’s dependence on Russian oil. With food and energy bills also rising, many households are under pressure. READ MORE: London Emergency: Stratford Station evacuated Fuel prices fell at the start of the Covid pandemic as many businesses closed temporarily and energy demand collapsed. But as world economies recovered, prices soared again and further after Russia’s invasion of Ukraine. Changes in pump prices are mainly determined by crude oil prices and the dollar exchange rate, because crude oil is traded in dollars. Russia is one of the world’s largest oil exporters and is facing economic and trade sanctions, which have raised potential supply concerns, pushing up oil prices. EU leaders have said they will block most Russian oil imports by the end of 2022 to punish Moscow, which has also had an impact on prices.
