UK petrol prices could hit £2.50 a litre and diesel £3, experts tell MPs

Diesel rationing a possibility after Russia's invasion of Ukraine, Treasury select committee told

• Russia-Ukraine war: latest updates

Petrol could soar to 2.50 a litre, while diesel could hit 3 and might even be rationed, experts told MPs on Monday, as they warned of worsening pain for consumers as Russia's invasion of Ukraine hits global energy markets.

Prices at the pump have already soared in recent weeks, reaching a succession of highs amid the Ukraine crisis. The latest figures from the data firm Experian Catalist show the average cost of a litre of petrol was 163.5p on Sunday, while diesel was 173.4p.