Ukraine crisis: How Russia’s invasion of Ukraine could impact on Worthing’s petrol prices and economy
and live on Freeview channel 276
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.
Prime Minister Boris Johnson is due to address the Commons at 5pm today (Thursday, February 24) to outline a ‘massive package’ of sanctions by the UK against Russia’s economy.
However it comes as oil prices surged past $100 (£74) a barrel to hit their highest level for more than seven years following the Russian invasion.
Advertisement
Hide AdAdvertisement
Hide AdThis price hike could then filter down into the prices paid at the pumps and domestic fuel bills, leading to higher and lasting inflation.
Transport costs could also increase as a result, which could have an impact on supermarket prices and for goods.