Monday, January 28, 2013

Petrol price looking to go up 4p in the next few days

Campaigners are warning the public that petrol prices may increase by 4p a litre in the next couple of days.

The Petrol Retailers Association has reported that a review of the wholesale fuel market was needed as "despite recent arctic weather cutting fuel demand across northern Europe and refinery chiefs complaining at their glut of petrol capacity" wholesale costs of petrol have risen 5p a litre in the four weeks after Christmas.

PRA chairman Brian Madderson said: "The shock rise in wholesale costs is just one of the reasons why the Petrol Retailers' Association has been knocking on the door of the Office for Fair Trading, since this time last year, to demand a full investigation into the workings of the UK market for road fuel".

Motoring journalist Quentin Wilson said: "A 4p rise is going to be cataclysmic for motorists, for families, for businesses across the UK. In some parts of the country we are seeing diesel as high as 148p so this will tip it over the psychological threshold of 150p...and it's unsupportable."


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