Friday, 1 September 2017

Petrol costs set to soar in UK after Hurricane Harvey

UK drivers face the prospect of a jump in petrol costs next week because of a steep rise in wholesale prices being blamed on the effects of Hurricane Harvey.

The warning was sounded by an industry body which charted a rise of more than 4p-per-litre in wholesale costs over the past five days alone.

The Petrol Retailers Association (PRA) said the impact of that increase on its members would be felt by motorists in the coming days.

The RAC said petrol was on course to overtake diesel costs for the first time in a year with average prices likely rising above 121p per litre - its highest level since 2014 - with no end to the surge currently in sight.

Diesel, it predicted, would remain stable at around 118.5p.

A spokesman for the motoring organisation, Pete Williams, said: "The price of unleaded petrol will leapfrog diesel early next week, rising by up to 4p per litre as the impact of Storm Harvey and the shut-down of large refineries in the Gulf Coast drives up US demand for petrol imports.

SKY       News.