Honeymoon Over for Cheap Petrol
Posted on October 24, 2008 by Fiona Hilliard
Just when I thought I could lay off the ‘rising price of petrol’ stories, OPEC sticks a spanner in the works and threatens to cut production. The strike action means our UK car hire customers may now may face a new 5 pence hike at the pumps.
Since last month, UK drivers have been enjoying a drop in petrol prices, following pressure from Gordon Brown on retailers to pass on savings to their customers.
Experts now believe that the recent drop in prices which saw unleaded petrol costing less than a pound a litre was just a flash in the pan.
OPEC production is almost certain to be reduced at the cartel’s emergency meeting in Vienna today. As a result of this, even the most conservative of analysts expect a rise of $10 per barrel.
An increase of two dollars increases the price of petrol by one penny, so motorists are destined for a five pence rise by Christmas according to experts.
Written by Fiona Hilliard
About the Author: Fiona likes to travel – especially to cities. Her favourites include: New York, London, Copenhagen, Madrid and Lisbon.
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