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Further Fuel Price Hikes Imminent

Diesel and Petrol Prices Rise

The price of a barrel of crude oil has hit $70 for the first time in over three years. The RAC has warned that following this, it is more than likely that fuel prices will be rising again. 

The price of a litre of petrol has risen by nearly 5ppl and diesel 3ppl since November, leading a 4 year high of £1.21 for petrol and £1.24 for diesel. 

Simon Williams, a fuel spokesman for RAC stated he is “fearful that 70 US dollars a barrel could become the new norm for 2018”.

“If oil stays at this level, pump price hikes will be almost inevitable.

“With households across the country still feeling the cost of Christmas, this is not the start to 2018 anyone would have wanted. It could also negatively affect business and further fuel inflation.”

 

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