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UK Petrol Prices To Increase By 4ppl

Petrol Prices Set To Rise

Experts warn that the cost of UK petrol prices are set to increase by around 4ppl after devastation of Storm Harvey, hitting a 2 and a half year record of of 121ppl by next week - making it more expensive than diesel for the first time in over a year.

With large oil refineries closed on the Gulf Coast of America, slashing its output by over 4.4 million barrels per day. This shortfall in output is causing America to source its fuel from overseas, therefore causing a large surge in demand and reduced availability worldwide - meaning that petrol prices rise. 

It is expected for the price increase to last some time until the US oil industry is able to get refineries on the Gulf Coast back into operation to meet American demand. 

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