The deal aimed at ending the bitter fuel tanker drivers' dispute is worth around 14 per cent over two years, it emerged today.
Hundreds of members of the Unite union will soon start voting on whether to accept the offer, which was worked out during all-day talks yesterday.
The agreement between union leaders and managers from two haulage companies which deliver fuel to Shell garages has averted further industrial action planned for this weekend.
The drivers, employed by Hoyer and Suckling, staged a four-day strike which ended at 6am yesterday, causing fuel shortages in parts of the UK.
It is believed that the deal is worth 9 per cent in year one and a further 5 per cent in year two and will take the drivers' basic pay to around £36,000.
But with overtime and other payments, their average earnings is expected to be almost £42,000 by the end of the second year, it is believed.
The basic pay will be for a 48-hour week. Union officials had pointed out that the drivers were on a basic wage of £32,000 for a 37-hour week in 1992.
Voting on the deal is expected to be completed by the end of the month.