Households and motorists have been warned to expect sharp rises in gas bills and petrol prices after a “perfect storm” of supply problems as the winter freeze begins.

The shutdown of the North Sea’s most important oil and gas pipeline system on Monday was compounded by an explosion at a major processing facility in Austria, which is the main point of entry for Russian gas into 
Europe.

After the incidents, wholesale gas prices hit their highest level for six years, rising by more than 50pc in the space of 24 hours, raising fears that the increase will be passed on to customers.

Oil prices have climbed so steeply that motoring organisations are warning of a 3p per litre increase at the pumps by Christmas.

MPs have told energy companies that any hike in bills for consumers would be a “disgrace” because wholesale prices are agreed well in advance.

The UK retail road fuels sector is estimated to be worth around £32bn, the OFT said. Petrol prices rose by 38% between June 2007 and June 2012, while diesel prices went up by 43% over the same period.

The OFT said it would explore a number of claims about how the road fuels sector is functioning, including whether supermarkets and major oil companies are making it more difficult for independent retailers to compete.

The review will also consider whether there is a lack of competition between fuel retailers in some remote communities.

Claire Hart, director in the OFT’s services, infrastructure and public markets group, said: “We are keenly aware of continuing widespread concern about the pump price of petrol and diesel and we have heard a number of different claims about how the market is operating.”

A Department for Transport spokesman said: “We welcome the OFT’s decision. Many motorists are concerned about fuel prices and that when crude oil prices fall, this isn’t seen at the pump as quickly as consumers would like.

“We look forward with interest to the findings of the study.”

This is the equivalent of £6 a gallon and the latest sign that driving is becoming increasingly unaffordable.

If this carries on “City Flight” will fizzle out and rural places will no longer suffer from the challenges of “blow ins” driving up house prices.

Instead those in our rural communities dependent on the private motor car, or public transport (which will undoubtedly diminish in the face of these sort of prices) will find themselves spending unsustainable amounts of their resources on simply getting about.

I have been doing some work over the last couple of weeks talking to communities in Lincolnshire about what makes their villages successful or in some cases (no names no pack drill) unsuccessful.

We have begun with a timeline and it is fascinating to chart the massive rise in population, in some settlements, as the introduction of the car, post war, gave families to mobility to choose to live in the country and work in the town.

Those days seem to be rapidly coming to an end- key question is  – can small scale and well meaning initiatives like the transition towns movement really address the challenge of “peak oil” or is something more significant needed?

All of this makes me think of those classic lines from “Heavy Horses” by Jethro Tull – “And one day when the oil barons have all dripped dry and the nights are seen to draw colder, they’ll beg for your strength, your gentle power, your noble grace and your bearing.”